Bonuses, commissions, and rebates must be included in the closing disclosure because the Real Estate Settlement Procedures Act (RESPA) mandates transparency in all financial transactions related to the closing process. The closing disclosure is a critical document that outlines the costs and fees associated with a real estate transaction. By including bonuses, commissions, and rebates, all parties involved have a clear understanding of the financial aspects of the transaction, allowing them to review and agree upon the terms before the closing occurs. This requirement is in place to protect consumers from hidden fees and to ensure that they are fully informed about what they are paying for.
The other options do not align with RESPA's intent to promote clarity and fairness in real estate transactions. For example, merely listing items verbally fails to provide a permanent and documented record of the financial terms. Omitting such details from the closing disclosures could lead to misunderstandings and potential disputes later on. Ignoring these financial aspects unless they are disputed undermines the regulatory goal of transparency and could adversely affect the integrity of the real estate market.