Real Estate Forums

Miami Beach Condos · 03-08-2006, 03:57 PM

Did you know that RESPA covers most residential real estate transactions but it will not cover the deal if the buyer pays all cash? Thought this was interesting.

REMAX LV · 03-30-2006, 12:26 PM

Hmm, that is a very interesting point. I guess that if there is no loan, what are they protecting or governing? I will make sure to pass the information along to my other Las Vegas real estate associates. Whhere did you find out the information, or how did the topic come up? Thanks for the post, it was very informative!

Miami Beach Condos · 04-20-2006, 10:55 AM

I saw something in my REALTOR magazine that caught my interest and then I googled it. I don't remember the website that I was looking at that confirmed the information and I'm afraid that I probably threw out the magazine but I do believe it was the October 2005 issue. Hope it helps.

Las Vegas Homes · 05-09-2006, 04:56 PM

WOW! That is quite shocking to me! Being a federal agency, it seems that RESPA would cover any real estate transaction at all? I am in the Las Vegas real estate market, and I have asked many of the agents in my office about this and none of them have known the answer/ explanation. I would be very curious to hear one!!

Great post though...

Las Vegas Real Estate · 05-22-2006, 03:59 PM

I am also suprised. I asked a few people around my office here in the Las Vegas home market as well, and found that no one was aware of this either!! I wonder how it could be legal and hardly anyone is aware of it? Are you sure that the article was read properly

?

Portland Real Estate · 05-22-2006, 08:46 PM

Hmmm... really interesting! I had no idea RESPA doesn't cover cash deals!I know that RESPA is very stringent on any kind of rebate in our state. I wonder if they really don't care at all if rebates are given in all cash situations.