Re-written with Permission: National Association of Realtors®
Not only do YOU need to know what Realtors® have been told, you can also use this as a marketing tool and share with your real estate agents.
RESPA Dos and Don’ts For Real Estate Brokers and Agents
1. Entities Subject to RESPA
Services that occur at or prior to the purchase of a home are typically considered settlement services. These services include title insurance, mortgage loans, appraisals, abstracts, and home inspections. Services that occur after closing generally are not considered settlement services.
- RESPA covers, among others:
- Real Estate Brokers and Agents
- Mortgage Bankers and Mortgage Brokers
- Title Companies and Title Agents
- Home Warranty Companies
- Hazard Insurance Agents
- Appraisers
- Flood and Tax Service Providers
- Home and Pest Inspectors
- RESPA, however, does not apply to:
- Moving Companies
- Gardeners
- Painters
- Decorating Companies
- Home Improvement Contractors
2. RESPA Prohibitions
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