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Rainmaker
2,898,299
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

I believe we all will do/be better when we accentuate the positive aspects of real estate (and life). In the meantime - study hard, take lots of practice tests and good luck on your state licensing exam.

Jun 13, 2018 09:08 AM
Rainmaker
505,309
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Answers in the Blueman manual

Jun 13, 2018 09:18 AM
Ambassador
3,443,067
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

What was the mistake, and who made it?

 

Jun 13, 2018 12:12 PM
Rainmaker
67,768
Jeff Perlis Prime Properties
Prime Properties - Lake Arrowhead, CA
Experience Your Own Transformation!

Depends on the mistake and if  it is corrected or not.

Jun 13, 2018 12:09 PM
Rainmaker
2,484,732
Richard Weeks
Dallas, TX
REALTOR®, Broker

It would depend on the mistake and who was at fault.

Jun 13, 2018 09:15 AM
Rainmaker
66,558
Denise Samouilidis
Mirsky Realty Group - Palm Beach Gardens, FL
Jupiter Abacoa Sales & Beach Front Luxury Homes

We recently had a past water bill that didn't show on the liens. Lots of drama for the buyer who had to come out of pocket to turn on the utility. But in the end the seller made it right.

Jun 13, 2018 09:10 AM
Rainmaker
1,080,447
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I have no idea, I assume the lender would have some fixing to do and there would be a delay in closing the escrow.

Jun 13, 2018 08:58 AM
Ambassador
2,588,271
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

It all depends upon the mistake.

The best approack is avoiding mistakes altogether on the CD!

Jun 13, 2018 09:46 PM
Rainmaker
539,883
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Mistake in regard to what? Could be significant or could be no big deal.

In any event, the company preparing the closing statement has to stand behind their product.

Jun 13, 2018 09:39 PM
Rainmaker
816,449
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

What mistake was made and who made the mistake and in what state did the mistake occur?

Jun 13, 2018 06:04 PM
Rainmaker
27,874
Jerry Thomas-Construction Loans
Cranbrook Loans - Farmington Hills, MI
Construction Loans Conv/FHA/VA

I would say that any mistake that cause the buyer or seller to pay too much or too little could be corrected. The lender is the one who could get hurt.

Jun 13, 2018 04:24 PM
Rainmaker
295,031
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

The allocation of funds would not go to the appropriate party or be credited correctly. Or the brokerage may not be paid the appropriate commission. 

Jun 13, 2018 04:12 PM
Rainmaker
2,391,535
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Many good responses!

Jun 13, 2018 02:26 PM
Rainmaker
1,356,681
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

It happens. That's why it is so important to check every line, ask questions, and make necessary corrections before signing any documents, especially the closing statement.

Jun 13, 2018 12:13 PM
Rainmaker
493,304
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

The buyers and sellers settlement statements get sent to the agents to check over to see if there are any errors. I don't go through the final documents that need to be notarized by the principals. I do make sure all the "disclosures" are signed by everyone as required that the real estate commission demands of us, the real estate agent/broker. If the principals have been less than forthcoming and I don't know about it, that can come back to bite the buyer or seller after closing. If discovered BEFORE closing, it should be corrected immediately and all parties to the transaction notified in writing. Is this what you were asking?

Jun 13, 2018 11:27 AM
Ambassador
1,069,491
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Buyers and sellers are normally notified by the escrow closing agent of any corrections that need to be made to the closing documents. Consequences depends on what mistake was made. 

Jun 13, 2018 11:12 AM
Ambassador
2,092,987
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 See an Attorney.

Jun 13, 2018 10:45 AM
Rainmaker
976,243
Carol Williams
U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business. - Wenatchee, WA
"Customized Mentoring & Marketing Services"

Are you asking about a Disclosure of some kind or actual Closing Documents?  They are very different.

Either way, it could be from insignificant to serious... depending on the error. 

Jun 13, 2018 10:26 AM
Rainmaker
2,597,682
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

That would depend on the mistake. 

Jun 13, 2018 10:13 AM
Ambassador
1,391,573
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

A new closing discosure.

Jun 13, 2018 09:45 AM
Rainmaker
4,653,396
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

It would be time for a correction.

Jun 13, 2018 09:42 AM
Ambassador
4,069,389
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Who made this mistake?

Jun 13, 2018 10:18 PM
Rainmaker
861,911
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

They become Avitars...

Jun 13, 2018 08:09 PM
Rainmaker
3,622,842
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Wide open question...need more info

Jun 13, 2018 06:56 PM
Rainmaker
4,050,588
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Depends.

Jun 13, 2018 03:52 PM
Rainmaker
3,778,413
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

I heartily agree with Michael Jacobs .  I have worked with many professions, they don't spend time pointing out negatives.  A

Jun 13, 2018 12:25 PM
Ambassador
3,612,583
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Depends on the issue I would think.

Jun 13, 2018 11:48 AM
Rainmaker
4,319,174
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

in MA, the attorneys would have some explaining to do..... they receive the documents and they fill in the figures for closing.... 

Jun 13, 2018 11:31 AM
Rainmaker
659,256
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

From no consequence to "Here come da Judge."

It is never a good idea to place a seller in a situation they must PROVE what they do not know. That is IMPOSSIBLE to prove. 

 

 

 

 

Jun 13, 2018 10:57 AM
Rainmaker
2,443,188
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Depends on the nature of the error.

Jun 13, 2018 09:31 AM
Rainmaker
3,566,881
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Would think the lender needs to correct it.

Jun 17, 2018 03:43 PM
Rainmaker
2,688,015
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Who made the mistake? That is step one!

Jun 14, 2018 06:08 AM
Rainmaker
2,963,528
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Dave Halpern nailed this one!

Jun 14, 2018 05:53 AM
Rainmaker
4,312,182
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Depends on the mistake.

Jun 14, 2018 05:29 AM