- Which document is the most important at closing?
- What is blockbusting in real estate terms?
- Which is an example of steering?
- Is racial steering illegal?
- What is real estate steering?
- Can a Realtor recommend a lender?
- How do you avoid steering in real estate?
- Why does the Fair Housing Act prohibit steering?
- What is racial tipping in real estate?
Which document is the most important at closing?
The most important originals are the purchase agreement, deed, and deed of trust or mortgage.
In the event originals are destroyed, you might be able to get certified copies of these documents from the lender or closing company, but you don’t want to rely on others’ recordkeeping systems unless you have to..
What is blockbusting in real estate terms?
Blockbusting is a method of manipulating homeowners to sell or rent their homes at a lower price by falsely convincing them that the neighborhood’s socioeconomic demographic is changing because of new groups of people moving in and that this shift will affect the value of their home.
Which is an example of steering?
Steering is when a real estate agent influences a homebuyer to purchase in certain communities based on their race, therefore limiting the buyer’s choices. Let’s look at a hypothetical example of steering: a white buyer and a Black buyer approach the same real estate agent looking to buy homes.
Is racial steering illegal?
When Was Racial Steering Made Illegal? The Fair Housing Act of 1968 “prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, because of race, color, religion, sex, familial status, national origin, and disability.
What is real estate steering?
“Steering” is the practice of influencing a buyer’s choice of communities based upon one of the protected characteristics under the Fair Housing Act, which are race, color, religion, gender, disability, familial status, or national origin.
Can a Realtor recommend a lender?
Real estate agents often hand out lists of recommended mortgage lenders. An agent can’t survive in the real estate business without a good mortgage lender or two to refer. … In fact, buyers often don’t know which they should do first—select a mortgage lender or hire a real estate agent.
How do you avoid steering in real estate?
How to Avoid SteeringHAVE GOOD COMMUNICATION. It all starts with having good communication with your client. … ASK SPECIFIC QUESTIONS. Ask questions that are specific when it comes to where they want to live. … MAKE IT ABOUT THE PROPERTY.
Why does the Fair Housing Act prohibit steering?
Steering on the basis of any of the characteristics defined under the Fair Housing Act is not only unethical, it’s illegal because it limits the housing opportunities available to that buyer. … These would be violations of the Fair Housing Act and of the REALTORS® Code of Ethics.
What is racial tipping in real estate?
From Wikipedia, the free encyclopedia. Racial steering refers to the practice in which real estate brokers guide prospective home buyers towards or away from certain neighborhoods based on their race.