Pennsylvania License Law
The Pennsylvania Real Estate Commission's Real Estate Recovery Fund compensates consumers who:
AWere unable to obtain a mortgage due to poor credit history
BSuffered financial loss due to the fraudulent or dishonest conduct of a licensed Pennsylvania real estate agent✓ Correct
CLost money on a real estate investment that declined in value
DWere overcharged for title insurance by a settlement company
Explanation
PREC's Real Estate Recovery Fund compensates consumers who suffered financial loss as a result of a licensed Pennsylvania broker or salesperson's fraud, misrepresentation, deception, or dishonest conduct in a real estate transaction. The consumer must obtain an uncollectable court judgment against the licensee.
Related Pennsylvania Pennsylvania License Law Questions
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