Thread: Ethics and engineers
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Old 06-17-2007, 11:30 AM
Phillip Stojanik's Avatar
Phillip Stojanik Phillip Stojanik is offline
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Location: Houston, Texas
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Re: Ethics and engineers
Quote:
Originally Posted by Thom Walker View Post
Actually, as long as you disclosed that you accepted a fee from them, no, you wouldn't be in violation. The idea will make anyone who accepts ethically challenged in my opinion, but if they disclose, they can do it.
Not exactly Thom. The disclosure form (REI 7B-0) that TREC created is not a license to break the law. It is intended for disclosure of legally accepted or paid fees to non settlement service providers.
The fine print at the bottom of the form reads…

"The form of this addendum has been approved by the Texas Real Estate Commission for use by licensed real estate inspectors. Such approval relates to this form only. No representation is made as to the legal validity or adequacy of any provision in any specific transactions. It is not suitable for complex transactions. Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, 1-800-250-8732 or (512) 459-6544 (http://www.trec.state.tx.us)"

RESPA still applies and, in a sense, this is TREC giving an inspector a little rope with which to hang himself.
Last edited by Phillip Stojanik : 06-17-2007 at 11:36 AM.
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