Originally Posted by
Phillip Stojanik
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.
Phillip,
The form is attached. I think it says exactly what I said. Help me understand where I'm missing something, please. I'm talking about disclosure. No one is talking about illegal referrals. Whether this ethically challenged engineer is breaking the law is for detrmination by someone else.