Posted By: Likes to Comply
Where to disclose seller costs on LE/CD - 06/12/18 01:00 PM
It is not often buyers pay any of the seller costs in this area. I am not clear on where these costs are disclosed.
If the buyer is paying the seller's settlement fee in addition to their own, is the seller's settlement fee disclosed in H. Other? What about any portion of government recording or taxes, is it reported in H. Other except if it is transfer taxes?
I thought that everything associated with the seller whether it is paid by the seller (then wouldn't be on LE, but would be on CD) or paid by the consumer (then would be on the LE and CD) would always be disclosed in H. Other with the exception of transfer taxes, which would be reported on that line item...
Is that correct?
Thanks in advance
If the buyer is paying the seller's settlement fee in addition to their own, is the seller's settlement fee disclosed in H. Other? What about any portion of government recording or taxes, is it reported in H. Other except if it is transfer taxes?
I thought that everything associated with the seller whether it is paid by the seller (then wouldn't be on LE, but would be on CD) or paid by the consumer (then would be on the LE and CD) would always be disclosed in H. Other with the exception of transfer taxes, which would be reported on that line item...
Is that correct?
Thanks in advance