Master Settlement Statement-Changed Fees

Answered by:

Question:

When escrow provided a Master Settlement statement with fees for us, the lender to disclose to our buyer on a purchase, they had transfer taxes and owners title being paid by the seller. They have now sent out an amendment changing those 2 fees to be paid by the buyer because that is how the contract was drawn up. Is this a valid change of circumstance? Or a tolerance violation?

Answer:

When did the bank receive the contract? If on or before the LE was issued then it's information you had before hand and there is no changed circumstance. If the contract was received after the initial LE and providing you redisclosed within 3 business days of receiving the information (contract) you could have a changed circumstance.