Becky is A Property Agent
This article belongs to a larger series on How to Become a Real Estate Agent.
WRITTEN BY:
Jealie Dacanay
The Real Estate Settlement Procedures Act (RESPA) was established in 1974 by the U.S. Congress as a defense against unfair business practices and unnecessarily high costs related to homeownership. RESPA strives to get rid of unethical practices like kickbacks, costs, and mistakes and guarantees disclosures are supplied to buyers and sellers while getting a mortgage. By understanding RESPA offenses, laws, and regulations, all parties involved can avoid charges and unethical organization practices.
Let us dive into what is RESPA in real estate, typical RESPA offense examples, charges for breaking RESPA, and how realty professionals can avoid them.
This article belongs to a larger series on How to Become a Real Estate Agent.
WRITTEN BY:
Jealie Dacanay
The Real Estate Settlement Procedures Act (RESPA) was established in 1974 by the U.S. Congress as a defense against unfair business practices and unnecessarily high costs related to homeownership. RESPA strives to get rid of unethical practices like kickbacks, costs, and mistakes and guarantees disclosures are supplied to buyers and sellers while getting a mortgage. By understanding RESPA offenses, laws, and regulations, all parties involved can avoid charges and unethical organization practices.
Let us dive into what is RESPA in real estate, typical RESPA offense examples, charges for breaking RESPA, and how realty professionals can avoid them.