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#1874473 - 11/26/13 07:46 PM Buyer Paying Seller's Fees
Christine81 Offline
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Joined: Mar 2011
Posts: 78
The Buyer agreed to pay the Seller's closing costs. Should these be disclosed on the GFE? At the time of the initial GFE we were not aware of the agreement.

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RESPA
#1874482 - 11/26/13 07:55 PM Re: Buyer Paying Seller's Fees Christine81
RR Joker Offline
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Joined: Nov 2002
Posts: 20,654
The Swamp
No. You will show them in their respective (normal) places and give a credit/debit on page 1.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1874493 - 11/26/13 08:01 PM Re: Buyer Paying Seller's Fees Christine81
Christine81 Offline
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Joined: Mar 2011
Posts: 78
Thanks for the confirmation and quick response.

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#1874612 - 11/27/13 02:02 AM Re: Buyer Paying Seller's Fees Christine81
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,345
You are prohibited from requiring verification docs prior to issuing the GFE.
Some of us take that out to mean, even if the borrower brings docs in at time of application, don't even look at them till after the GFE has been issued.
That way you cannot be confused by items that appear as a condition of the Offer to Purchase.
Remember, the GFE is only supposed to reflect the normal costs of getting the LOAN, not purchasing the specific property.

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