Preferred vendors, inspectors, and RESPA

[johnmika1]

I found this on the ASHI reporter after having another agent tell me they hate "deal killers".
We all really need to do something about this:

"This session proved to be of great interest to the ASHI delegation. HUD’s representatives made it clear that preferred-vendor relationships between inspectors and real estate professionals are a clear-cut violation of RESPA. Fay expressed HUD’s desire and ability to vigorously pursue such violations and encouraged those in attendance to advise constituents to forward as much evidence of such relationships as possible to HUD. "

For more information on RESPA, RESPA violations and prosecution of preferred-vendor violations, see the official Web site at RESPA - Real Estate Settlement Procedures Act Home Page - HUD (http://www.hud.gov/offices/hsg/sfh/res/respa_hm.cfm).

full article here: ASHI Attends ARELLO Midyear Meeting Home Inspector Track | The ASHI Reporter | Inspection News & Views from the American Society of Home Inspectors (http://www.ashireporter.org/HomeInspection/Articles/ASHI-Attends-ARELLO-Midyear-Meeting-Home-Inspector-Track/1445)

[Aaron Miller]

Reporting these would constitute a part-time job in the DFW Metroplex.:D

[Nolan Kienitz]

AM -

More like a full-time job. Very few of us independents still inspecting.

[Tim Spargo]

My understanding is that the large offices don't construe the above mentioned as preferred vendor lists... it's "Advertising" or sharing the cost.

Well, that clears that up :confused:

[Aaron Miller]

What's In a Home Inspector Recommendation? | NBC 5 Dallas-Fort Worth (http://www.nbcdfw.com/the-scene/real-estate/Whats-In-a-Recommendation-98605259.html)