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Updated about 8 years ago on . Most recent reply

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George P.
  • Real Estate Investor
  • Baltimore, MD
268
Votes |
1,493
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Buyer's closing cost not disclosed to the seller (seller subsidy)

George P.
  • Real Estate Investor
  • Baltimore, MD
Posted

Is there a law that specifically prohibits the closing company not to disclose the buyer's itemized closing costs ? We are contributing a rather large sum to the buyer's closing (10k), and would naturally want to see how much of this sum will not be used by the buyer. Our agent quotes some NEW law that supposedly protects buyer's financial details. Title co (buyer's choice) takes their sweet time to answer questions, but sent us the castrated version of "ALTA Settlement Statement - Seller" (http://www.alta.org/trid/download.cfm?tridID=8&type=pdf) which excludes all the closing costs itemization.

Any insights from the pros?

THANK YOU!

Most Popular Reply

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9,935
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Chris Mason
  • Lender
  • California
10,791
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9,935
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Chris Mason
  • Lender
  • California
ModeratorReplied

@Russell Brazil, so you were a PolSci major, is what you were saying? :P

  • Chris Mason
  • Loading replies...