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If money is put in escrow by the seller of real estate at time of closing is the seller eligible for refund of the money?
Wiki User
∙ 15y ago
Refund occurs if and only if all conditions of the escrow agreement are carried out. In the case of an escrow of money from the seller, this is done to make sure that all requirements of the sale, including those that may be hidden or not immediately apparent are carried out. An escrow agreement is a contract. A third party, the escrow holder is involved. Because a third party holds the money, this is not the same as a deposit. The third party is the one who must be satisfied that the agreement is completed. There are specific government laws and regulations on escrow agreements, as well as the principles of contracts. Laws and regulations control how the money in escrow affects financial standing of the parties in the transaction in regards to loan eligability. jp
Wiki User
∙ 15y ago
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When you pay off a mortgage do you get the money that is escrow?
Yes. The lender should send you a refund for any funds remaining in your escrow account unless it uses that money to pay a pending real estate tax bill. It's your money.
What is it called when a borrower receives a refund after paying his note?
When a loan is paid off, the mortgage company gives an estimated payoff amount. This is based on a specific date. If the payoff date is before that date, the interest amount will be less than estimated. The excess payment results in a refund called an ESCROW BALANCE REFUND.
How do real estate agents charge their fees?
Typically a percentage of the sale that funds when escrow closed. 3% is normal, though generally the buyer's agent and the seller's agent split the commission 50/50. If the buyer has no agent, a partial refund is sometimes given to the buyer. sometime fixed amount may also be charged from buyer or seller insted of percentage.
Can you consolidate your defaulted student loans if your tax refund was garnished?
In the US, it depends on whether your loans are with DIRECT or FFELP. If you have FFELP loans, you are eligible to consolidate. If you have direct loans and have never consolidated before, then you are eligible. If you previously consolidated your FFELP loans, then you may be eligible to reconsolidate. If you previously consolidated your Direct loans, then you are not eligible to consolidate again. If you need help getting out of default, click on the link at the bottom of this text box.
How do you qualify for a loan from h and r block?
If you are eligible for a refund you can get one-any tax preparer can do the same thing, but interest is high. Just efile and you'll get it soon enough.
When you pay off a mortgage do you get the money that is escrow?
Yes. The lender should send you a refund for any funds remaining in your escrow account unless it uses that money to pay a pending real estate tax bill. It's your money.
Am I entitled to a refund?
You may be entitled to a refund if you have overpaid someone. If you paid for services you weren't happy with, or didn't receive, you may be eligible for a refund.
If you cancel your home insurance which was fully paid do you get a refund on the remaining months?
Most insurance companies will refund any remaining policy time. It will be prorated. If your mortgage company paid it out of escrow funds, the refund may get sent to them.
Does your deaseased moms IRS refund go to her estate?
Yes, the IRS refund will go to the estate. No one else would be authorized to sign the check.
Must the person who takes a rent abatement put the abated rent in escrow?
Yes, you must place it with the clerk of the county you reside in. The reason for placing the rent in an escrow account is to alert the court to a bad landlord. The clerk has a duty to notify the landlord of the rent-escrow and the steps needed to collect the money. Failure to comply with the terms of the escrow is grounds for a renter to quit their lease, demand a refund of the escrow, and security deposit!
Effect of topography on cloud formation?
i am entiled to a refund from Meggitt Plc/Whittaker Corp that is deposit in a escrow. account need to know how to apply for it
What happens with a deceased family members tax refund?
The tax refund will have to be deposited into the Estate of the taxpayers account and used to pay debts of the estate. It will then be disbursed according to the taxpayers will or the laws of the State if no will exists. The Administrator or Executor of the Estate will need to sign the check and deposit it in the proper account.
What is it called when a borrower receives a refund after paying his note?
When a loan is paid off, the mortgage company gives an estimated payoff amount. This is based on a specific date. If the payoff date is before that date, the interest amount will be less than estimated. The excess payment results in a refund called an ESCROW BALANCE REFUND.
If someone dies should someone still file their taxes for them even though nothing is owed and they are not due a refund?
The one charged with closing their business affairs, normally the estate adminster MUST. Your not fully dead until your affairs, including taxes are resolved.
Who must file a tax return?
An income tax return must be filed by anyone eligible for a tax refund.
Does the decedent's income tax refund check belong in the estate checking account?
Yes, the decedent's income tax refund check typically belongs in the estate checking account, as it is considered a part of the deceased person's assets. However, it's always advisable to consult with a legal professional or estate administrator for guidance specific to your situation.
Does Bank of America have a department for dealing with unclaimed escrow refund checks?
Yes. BAC does have a department that handles the unclaimed excrow money. You can call your BAC phone number and they will connect you to that department.
