Did Your Know...

Regulation 24 CFR 3500.16 under Real Estate Settlement Procedures ACT (RESPA) that;

No Seller of property that will be purchased with the assistance of a federally related mortgage loan shall violate section 9 of RESPA (12 U.S.C. 2608).

Title Companies; Liability of Seller(12 U.S.C. 2608)

(a) No seller of property that will be purchased with the assistance of a federally related mortgage loan shall require directly or indirectly as a condition to selling the property that title insurance covering the property be purchased by the buyer form an y particular title company.

(b) Any seller who violates the provisions of subsection (a) shall be liable to the buyer in the amount equal to three times all charges made for such title insurance.For more information please contact;

San Diego Association of Realtors
4845 Ronson CourtSan Diego, CA 92111
619.715.8000 | 619.715.8088 FAX