Final answer:
Under RESPA, the pamphlet 'Real Estate Settlement Costs And You' must be given to the buyer to inform them of the settlement process and their rights.
Step-by-step explanation:
Under the Real Estate Settlement Procedures Act (RESPA), a copy of 'Real Estate Settlement Costs And You' must be provided to the buyer.
This federal law, enacted in 1974, was designed to provide homebuyers and sellers with complete and accurate disclosures of all the costs related to the real estate settlement process.
The pamphlet explains the nature and costs of real estate settlement services, outlines the process, and informs the buyer of rights under RESPA.
Despite the involvement of sellers, lenders, and real estate agents in the process, the requirement under RESPA specifically aims to protect the buyer by ensuring transparency. Hence, the provision of this document is directed toward increasing the buyer's understanding of the settlement process and associated costs.