There is more to the story, Tim. They would not have done that unless something was awry. Maybe the loan funding was rescinded, maybe they suspected some type of fraud, maybe the title company is not financially sound? Ask for the real reason and get to the bottom of it but the real losers here are the buyer and seller. They deserve to know and get it corrected as soon as possible unless of course one of them is the problem.

There has to be more back story to this if payment was stopped and I doubt a title company or attorney would have unilaterally made a decision to return all funds to a lender.

Not that I've ever heard of. I would get the owner of your company involved ASAP or the sellers or buyers attorney. They are probably way ahead of this than you would be.

You need to get to the bottom of this and find out why that happened. As Debbie Reynolds maybe there was suspicion of fraud, etc. Unless you ARE the broker, does your broker know? Ken has a good thought, too.

That is unbelievable!

Tim Shepard Title company can cancel  a transaction for legitimate reasons.

The closing would not have taken place without a "clear" to close therefore the title company is the source I would dig into. Something is not right, good luck. Sounds like an untenable situation for them.

Apparently they can.  If things are not resolved I would contact the state agency that regulates title companies in Florida.

Never heard of that.   Maybe they found a Cloud on Title after the fact.   Tough cookies for them!

1. I would personally visit the Title Company or Title Attorney and demand an explanation.

2. I would consider contacting the Florida Office of Insurance Regulation (they regulate Title Insurance).

3. Unless there is a very rational reason for this, I am contacting my own Attorney.

4.  What about the Buyer or Seller Client that I represented?  Surely they are aware of this; they need to be contacted.

Tim,

Like everyone expressed, there is something else going on.  It could be something that is very serious.  A

Tim Shepard - few good answers to your question.

I am sure something else is wrong, somewhere else....

Not heard of this, but I think something is missing from this story

I have been told to hold the check as they were still waiting for funding although everything was all signed. But never canceled

Wow, time for some questions! The title company may have some liability here depending on the circumstances!

There has to be more to the story. Why cancel?

must be more to the story...

Fraud is a good reason to cancel a settlement.

I do not know.

Why would they do that? They didn't give you any more information than that?

Talk with your title company to see what happened. There has to be something going on that doesn't sit well with the title company. Communicate with an agent there. 

Our local title companies are very good at explaining things for us agents. I hope you have the same luck. 

We agree with all who have advised you to research this further. Your Broker should be willing to step in, since it was legally his sale.

Call the Florida Realtors Legal Hotline.

Tim Shepard Keep us updated.  Anxious to know the back story

Must have been something big that came up to block the sale, maybe the seller does not really own it.

I am sure they would not have done this without the legal right to do so.

Something really, really bad must have happened!  You'll have to let us know what it was.

Tim Shepard They must have had a good reason.

Certainly an odd situation but I would be more concerned with the party you represent, what happened to them?

Title Company as the closing agent and is not the position of making such a disposition, either the Lender or an attorney made the call, but best be figuring out how your client was affected FIRST, and the Title Company plan for remedy to THAT, then resolve the commission issue,  in my opinion.

I'd dig deeper. And like Ken Jones would not hesitate to call law enforcement if you don't get a reasonable explanation.

It appears as though the bank owns the funds.

Depends on what happened to make them do that.

You should be talking to your broker.

Wow. 

Agree with other who have said there is more to the story than meets the eye.

reading to see what others think!

New one on me. Need more information. 

I've never heard of that happening....if a deed is accepted and recorded, it's a done deal in my state.... spend the money..... 

This is a new one on me.  I'm guessing that the funds may have not actually arrived from the bank.

I'd never use that title company ever again. You can not cancel a transaction without principal mutual agreement and signed documents. 

This definitely needs to be followed up on.  Call florida legal aid.

Keep us posted.  

I've NEVER heard of this one!  I agree with the rest, there is definitely something more to this.  I'd reach out for an explanation and make sure your broker knows what's going on.  Ken has a great idea about letting the AG know as well.

Holy Crap-tacular!  On the surface this smells of fraud ... but there is no way of knowing. You need to go to the source and get some answers.  What mistake did the title company make?  Does that mistake afford them the liberty of unilaterally canceling everything?  Document everything ... then the next step may be legal advice. 

right to sell? Ownership?   sorry to hear that....

You may need to seek legal counsel.

He who has the gold rules...case in point.