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Updated almost 8 years ago, 02/10/2017

User Stats

1,493
Posts
268
Votes
George P.
  • Real Estate Investor
  • Baltimore, MD
268
Votes |
1,493
Posts

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!

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