Buyer Seeing Sellers fees in HUD-1

[infoseeker]

We are in escrow for the purchase of our first home. We received the estimated HUD-1 from our escrow agent and it did clearly list buyer fees. I dont have any issues or discrepancies in it. However it did not show any seller fees. I asked our escrow agent and she said that sellers fees are not shown to buyer and vice-versa for privacy reasons! And from her response looks like the final HUD-1 also will not have seller fees shown to me.

1. Is it true. Or am I entitled to see sellers fees as well in HUD-1?

2. If I dont get to see sellers fee, how can I verify buyers agent commission? (which was not shown in estimated HUD-1). Also how can I verify that the escrow fee was split between buyer and seller (according to our purchase agreement)?

[urbanrealtor]

1:
I don’t know the legality of it but that is a normal practice.

Recently, I had to secure special permission from the seller (my client) to show their side to the buyer.
I had no problem showing it but the buyer’s agent did not want his client to see his commission.

Weird.

2:
Most escrows these days (though certainly not all of them) are owned by title insurance firms.

That means their fees and practices have to be posted with the insurance commissioner (or so I am told).

As far as the buyer agent commission, that is technically not your right. If your agent wants to show you his commission authorization then he can but the HUD shows a financial arrangement between seller and buyer’s broker. If you pay him, then you get to see it.
That is why a buyer agent needs seller permission to give a buyer rebate through escrow.
Its technically the seller’s money and only he has rights to say what happens with it (and who is privy to that info).

As a practice, I find it best to show the client ANY info they want.

But that is me…

[urbanrealtor]

1:
I don’t know the legality of it but that is a normal practice.

Recently, I had to secure special permission from the seller (my client) to show their side to the buyer.
I had no problem showing it but the buyer’s agent did not want his client to see his commission.

Weird.

2:
Most escrows these days (though certainly not all of them) are owned by title insurance firms.

That means their fees and practices have to be posted with the insurance commissioner (or so I am told).

As far as the buyer agent commission, that is technically not your right. If your agent wants to show you his commission authorization then he can but the HUD shows a financial arrangement between seller and buyer’s broker. If you pay him, then you get to see it.
That is why a buyer agent needs seller permission to give a buyer rebate through escrow.
Its technically the seller’s money and only he has rights to say what happens with it (and who is privy to that info).

As a practice, I find it best to show the client ANY info they want.

But that is me…

[urbanrealtor]

1:
I don’t know the legality of it but that is a normal practice.

Recently, I had to secure special permission from the seller (my client) to show their side to the buyer.
I had no problem showing it but the buyer’s agent did not want his client to see his commission.

Weird.

2:
Most escrows these days (though certainly not all of them) are owned by title insurance firms.

That means their fees and practices have to be posted with the insurance commissioner (or so I am told).

As far as the buyer agent commission, that is technically not your right. If your agent wants to show you his commission authorization then he can but the HUD shows a financial arrangement between seller and buyer’s broker. If you pay him, then you get to see it.
That is why a buyer agent needs seller permission to give a buyer rebate through escrow.
Its technically the seller’s money and only he has rights to say what happens with it (and who is privy to that info).

As a practice, I find it best to show the client ANY info they want.

But that is me…

[urbanrealtor]

1:
I don’t know the legality of it but that is a normal practice.

Recently, I had to secure special permission from the seller (my client) to show their side to the buyer.
I had no problem showing it but the buyer’s agent did not want his client to see his commission.

Weird.

2:
Most escrows these days (though certainly not all of them) are owned by title insurance firms.

That means their fees and practices have to be posted with the insurance commissioner (or so I am told).

As far as the buyer agent commission, that is technically not your right. If your agent wants to show you his commission authorization then he can but the HUD shows a financial arrangement between seller and buyer’s broker. If you pay him, then you get to see it.
That is why a buyer agent needs seller permission to give a buyer rebate through escrow.
Its technically the seller’s money and only he has rights to say what happens with it (and who is privy to that info).

As a practice, I find it best to show the client ANY info they want.

But that is me…

[urbanrealtor]

1:
I don’t know the legality of it but that is a normal practice.

Recently, I had to secure special permission from the seller (my client) to show their side to the buyer.
I had no problem showing it but the buyer’s agent did not want his client to see his commission.

Weird.

2:
Most escrows these days (though certainly not all of them) are owned by title insurance firms.

That means their fees and practices have to be posted with the insurance commissioner (or so I am told).

As far as the buyer agent commission, that is technically not your right. If your agent wants to show you his commission authorization then he can but the HUD shows a financial arrangement between seller and buyer’s broker. If you pay him, then you get to see it.
That is why a buyer agent needs seller permission to give a buyer rebate through escrow.
Its technically the seller’s money and only he has rights to say what happens with it (and who is privy to that info).

As a practice, I find it best to show the client ANY info they want.

But that is me…

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