Full disclosure refers to the general need in any business transaction for all parties to be truthful and forthcoming regarding any material issue related to the transaction. Often times the full disclosure requirement is reinforced through a provisions c
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Knowing the Difference is Important for Marketing Congress enacted RESPA, the Real Estate Settlement and Procedures Act, in order to regulate the activities of vendors involved in the settlement of real estate transactions. The impetus for the Act was ab
Continue reading >>Express Agency: Express agency is created by either an oral or a written agreement between the principal and the agent. It indicates their express intent for this representational status. In real estate, agency is normally created by either a written li
Continue reading >>With amendments and addendums, it's all in the timing. Two terms that have been used incorrectly by some real estate agents and brokers are theaddendum and the amendment. Though both can modify the content or terms of a real estate contract or purchase a
Continue reading >>This Overview Should Help You to Know When to Be Cautious Congress enacted RESPA, the Real Estate Settlement Procedures Act, in order to curb abuses of the consumer in real estate settlement charges. Before the Act, there was rampant abuse of the consume
Continue reading >>Too many real estate agents and brokers are in the dark when it comes to the very stringent regulations in RESPA, the Real Estate Settlement Procedures Act. Not only does RESPA and HUD regulate AfBA's, or Affiliated Business Arrangements, but also many ot
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