What is the statute of limitations for investigation of a licensed person in connection with a Texas real estate complaint?

What is a trec investigation?

The TREC Investigator is a Fact-Finder

Case determinations are made by the staff attorney and are based on the presence of evidence (or not) of a violation of the Real Estate License Act or Texas Real Estate Commission Rules.

What is the most common complaint filed against realtors?

Unfortunately, litigation and licensing complaints against real estate professionals are exponentially increasing.

Most Common Complaints

  • Incomplete and duplicate contracts.
  • No permits.
  • Easement errors.
  • Mineral rights.
  • Failure to review or recommend survey.
  • Contract drafting.
  • Failure to review title.
  • Loss of earnest money.

Can you get a real estate license with a misdemeanor in Texas?

You can get a real estate license with minor misdemeanors on your record. If you already have a license, it takes a felony for the state to even consider revoking it.

Which of the following is considered a settlement service provider under respa and TREC rule 535.148 receiving an undisclosed commission or rebate?

§535.148(e) says a “settlement service provider” could be any of the following, but isn’t exclusive to these: a federally related mortgage loan originator; a mortgage broker; a lender or other person who provides any service related to the origination, processing or funding of a real estate loan; a title service …

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What is a main function of the Texas Real Estate Commission?

The purpose of the Texas Real Estate Commission is to protect the public through regulation of licensed real estate brokerage practitioners, real estate inspectors, residential service companies, and entities offering timeshare interests.

Does TREC regulate appraisers?

TREC regulates: real estate brokers and salespersons; • real estate inspectors; • real estate appraisers; education providers for real estate, home inspection and appraisal courses; … Only appraisers licensed or certified under a compliant state program may appraise real property in connection with FRTs.

Can you sue a realtor for lying?

If you sue your real estate agent for breach of contract, you may have a claim for professional negligence if the claim is related to misleading information about the property, especially if it resulted in a personal injury or property damage.

Is there a code of ethics for REALTORS?

REALTOR® Code of Ethics

The Code establishes a standard of conduct, which in many respects exceeds basic legal requirements. This standard ensures that the rights and interests of consumers of real estate services are protected. As a condition of membership, all REALTORS® agree to abide by the Code.

Can a felon buy a house in Texas?

You can get a home loan despite having a felony. Having a felony conviction on your record can impact your life in many ways. … Most banks do not run criminal record checks before approving loans, and they are unlikely to deny you if you have good credit even if they are aware of your history.

What disqualifies you from being a real estate agent in Florida?

It all depends on the specific crimes on your record and how much time has passed since them. If you have a capital or first-degree felony, for example, your application will be denied. But if you committed a felony like tax evasion or breaking and entering and it’s been 15 years, your application might get approved.

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