Question
The seller has required the buyer to use their title insurance company. The seller has been told that if the buyer uses the title company,
The seller has required the buyer to use their title insurance company. The seller has been told that if the buyer uses the title company, he will pay part of his real estate commissions, increasing his net proceeds from the sale. Is this a legally permissible arrangement?
A. This is illegal under RESPA
B. This is illegal according to Regulation Z
C. This is allowed if the buyer was receiving a VA loan
D. This is allowed if no charges are paid directly to the seller
Step by Step Solution
There are 3 Steps involved in it
Step: 1
The correct answer is A This is illegal under RESPA Real Estate Settlement Procedures Act RESPA is a ...
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
