Sign up for your FREE personalized newsletter featuring insights, trends, and news for America's aging Baby Boomers

Newsletter
New

Escrow Company Lost My Cashier's Check Which Is Delaying My Closing, Might Force Us To Lose The House And Earnest Money

Card image cap

I am asking for advice here because I don't know what to do.

This is in the state of Washington. We're closing on a house and escrow company has 2 locations, 1 is 100 miles away, and the other is 30 miles away. I dropped off the cash to close cashier's check with the escrow company at their closer location on Tuesday, December 10th, before 1230pm, and I got a "receipt for check" from them. We went for our signing earlier today and signed everything with a notary. I got a call today, December 11th, at 1 pm from my escrow office that they didn't receive the check. The escrow office that I dropped off my check at, apparently next day air shipped the check to the other office that's 100 miles away. They used UPS next day air, and UPS lost the package as it hasn't left our local city station despite needing to be delivered this morning. I asked escrow what they could do, and they told me nothing and to go talk to my bank or UPS. I went to 2 bank branches and called the bank, and there is nothing they can do since it's a cashier's check. They just need to wait for it to expire in 90 days. I called UPS several times, and no one can find the check. Escrow is shrugging it off like its my responsibility, and they're saying they didn't receive the funds to close despite me having a signed and dated receipt from them with a picture of the check on there.

We were supposed to be closed tomorrow and getting the keys. Escrow is saying even if they get the check tomorrow it won't clear on time since they have to wait 24 hours for the check to clear. If we don't close tomorrow, our rate lock would expire, and we would need to extend it. That means thousands in additional fees. Not to mention we're under contract with the seller for 4 more days, and we'd potentially lose our earnest money.

What can I do?

submitted by /u/mickaphely
[link] [comments]


Recent