Separation of Buyer and Seller Closing Disclosures
Closing a real estate transaction on time and based on clear and accurate information is a priority for real estate professionals, regardless of whether the agent is representing the buyer or the seller in the transaction. However, whether a real estate professional can obtain closing information for the buyer and/or seller is often not the same from transaction-to- transaction.
There are legal reasons for when a real estate professional can view buyer or seller information grounded in the TILA-RESPA Integrated Disclosure regulations (“TRID”) and federal and state privacy laws. The following summary addresses common issues experienced by real estate professionals as it relates to closing information.