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escrow

I was contacted by a reader yesterday wanting to know if a property that we have listed for sale was also available for lease. She proceeded to inform me that she had called on the “Craigslist ad” that “we” ran and immediately thought about “real estate scams”, so she was contacting me directly. After checking on the property she was calling about, it turns out it was only for sale. The ad that she found on Craigslist really was a scam. In order to warn my readers

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Congress enacted the Real Estate Settlement Procedures Act (RESPA) back in 1974 in order to address problems in the real estate settlement process. It seems that Congress felt that they could legislate fair business practices and reduce fees and costs to home buyers through enlightenment about the settlement process and the associated costs that go [...]

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