Hope this helps.
This is a common misconception unfortunately. But its all in black and white on page 2 of every sales agreement we use.
But I think it's kind of subjective as to how and agent would advise you in this case...
He said that they are learning alot and realized many companies have been doing things incorrectly lately.
Buyers cannot receive "cash back" at a closing from seller assist. If the buyers didn't need (or qualify for) the full 6%, the closing agent would only credit them for their costs. That might be what's going on.
If you give the $900 back you have committed mortgage fraud by doing an off sheet transaction
You honored the agreement of sale and have done no wrong. The person that was at fault was the buyers Realtor and mortgage lender who failed to understand that FHA only allows for the seller assist to include actual closing costs. If the buyer wanted to renegotiate the Agreement of sale once they realized the total amount of closing costs was less than 6% they should have expressed an interest to do so prior to settlement.
Now that everything is signed you are done. Send your settlement sheet to your accountant at the end of the year and let the accountant figure it out.
Our big thing is what the HUD statement reflects. They should have stopped closing.
I did call the buyer's lender and spoke to her. She said she thinks it is what it is. Closing cost less....
I get a million answer :(