$6,000 price discrepancy on Deed vs. HUD - noticed after closing?

Question

First, yes, I know I should have spotted this - I didn't.

I purchased a house from HUD in November 2016. Purchase price was $27,501. I closed via a local title company - total was about $29,000 after fees/ taxes...etc.

I am now selling the property to another investor, and they have asked me to send over a copy of the deed. While I was looking at the Deed - the notarized/ signed one, I noted they list the purchase/ sale price as $21,501 - a difference of $6,000 vs. what I paid. The HUD-1 Settlement doc says $27,501 as the purchase price.

Here are my specific questions:

Which of these doc's - HUD-1 or Deed is going to be the most legally binding? I have already paid the higher price, so I am not worried about owing more, but obviously would prefer to be refunded $6,000. I also want the correct price to be reflected on the deed to prevent any future tax issues.

To move towards a resolution - should I contact the title company I used to close the property - or should I contact my RE lawyer first?

Greg H. · Answer

It could matter in states that have a transfer tax but otherwise meaningless

With Texas being a non disclosure state, deeds read only "$10 and other valuable consideration "

Wayne Brooks · Answer

It really means nothing nothing.  It doesn't effect your taxes, as you don't do your income tax based on some recorded document, it's based on what you actually spent.  I don't see anything worth correcting.  Not sure why some "investor" wants to see a copy of your deed.....it means nothing, and is available online.

Kevin Siedlecki · Answer

@Sean Sullivan - Wow - someone just misread 7 for 1, and made this potentially significant error. I don't think you're going to be refunded your money, but you'll want to get it corrected for the sake of taxes on the sale. It's going to look like you've made $6000 more than you did. Yes, contact the title company. Thank you for justifying for me my practice of paying a lawyer to handle of this for me!

Russell Brazil · Answer

Its just a typo on the deed. You wont have any refund coming back.

Sean Sullivan · Answer

@Russell Brazil and @Kevin Siedlecki You guys really know how to rain on a guy's parade, eh!? Seriously though, thanks for the feedback - I'll plan to contact the title company tomorrow and let the forum know if anything other than a correction form comes out of this.

$6,000 price discrepancy on Deed vs. HUD - noticed after closing?

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