The ‘Real Estate Settlement Procedures Act’ (or RESPA), is an act that was first enacted in 1974 by congress. However, the most recent amendments can have an effect on how you buy and sell property.
This act was initially created because various companies associated with the buying and selling of real estate, such as lenders, real estate agents, construction companies and title insurance companies were often engaging in providing undisclosed kickbacks to each other, inflating the costs of real estate transactions.
We here at Delanty Lane & Rielley can help you deal with these recent changes and insure you the smoothest and fair buying or selling experience possible.