Our New Responsible Mortgage Lending law June 17, 2008
Just when you thought you had seen the most stupid law from our legislature regarding real estate omitting common sense, here comes another! House Bill 2770 aims to make what was a federal offense a state class-B felony. While it is aimed at mortgage brokers, it has wide sweeping implications to real estate agents, buyers, [...]
Congratulations to Russ Cofano January 15, 2008
This is huge news for a local real estate company… Long-time Rain City Guide contributor, Russ Cofano, recently accepted a position as Vice President and General Counsel at John L. Scott. From an email I received from Russ:
For me, the New Year is bringing a major change. Beginning Monday, January 14, [...]
Latent Landmine #1: Due on Transfer Clauses June 11, 2007
(This article is NOT legal advice. Consult an attorney for any specific legal issues you may have.)
I’ve created my “Latent Landmine” series to highlight items that are often unnoticed, and may not affect some people; but nonetheless could cause misery to others if they run afoul of them. Caveat Emptor, “Buyer Beware” is [...]
So you’ve decided to buy property with a friend… May 31, 2007
This is not legal advice. For legal advice, consult an attorney about your specific situation.
Many people find themselves wanting a house, but not being able to afford it by themselves. Some of these people think, “Wait a sec — my good friend ALSO wants to buy, but can’t afford it by herself EITHER. I bet we [...]
Latent Landmine Survey: Due On Transfer Clauses? May 24, 2007
(This article is NOT legal advice. Consult an attorney for any specific legal issues you may have.)
I’ve created my “Latent Landmine” series to highlight items that are often unnoticed, and may not affect some people; but nonetheless could cause misery to others if they run afoul of them. Caveat Emptor, “Buyer Beware” is [...]
The Legislature Volleys Back…. May 1, 2007
Recently, I wrote about new case law in Washington that was making it more difficult for buyers of real property to make post-closing claims against the seller for property condition related matters. The Washington legislature has just amended the state’s residential property condition disclosure law to put additional burdens on sellers and will soon [...]
The (legal) importance of a home inspection April 26, 2007
(This post is not legal advice. For legal advice, consult a lawyer about your particular situation.)
First, my apologies to the RCG community. I recently took a lengthy vacation and have been quite busy since my return. Moreover, I now need to hire additional staff and thus move to a larger office space. So, please forgive [...]
Are Real Estate Agents Facing Extinction? April 24, 2007
[I'm very happy to introduce the newest addition to the Rain City Guide team. Joe Beitey is a real estate lawyer out of the South King & Pierce County areas who runs the EZLawCoach blog and is also the Corporate Counsel for the MLS4Owners website. Joe has been quite active in the RCG community lately [...]
When real estate agents practice law… December 29, 2006
Bad things can happen. I recently worked on a matter where seller signed an offer. The offer included an escalation clause and indicated that the the legal description was “to be attached.” However, the offer also included the tax parcel number. The listing agent attached a new addendum stating the sale [...]
Escrow agents and how they protect themselves December 7, 2006
When you choose an escrow company (or “closing agent,” the person who does the work necessary to close the transaction), you look for several qualities: competence, service, location, etc. One factor you probably don’t consider is whether the escrow company is willing to be responsible for its own significant errors.
When escrow is opened, [...]
