[WSBAPT] "Public sale" vs. "private sale" vs. "sale by negotiation"

[Jon Fritzler]

RCW 11.56 sets forth different requirements for the sale of real property by the personal representative depending on whether the sale is a "public sale", "private sale", or "sale by negotiation."  No definitions for those terms is provided.  Suppose a personal representative engages a realtor to sell a house that is in need of a lot of repairs.  It is likely that a buyer would not be able to obtain a loan to purchase the property because of the condition of the house.  The realtor knows investors looking for such properties who are able to pay cash and solicits offers from said investors.  The property is not listed on the RMLS.  An offer above the appraised value of the home is received from one of the investors.  Is this a "public sale", "private sale", or "sale by negotiation"?

Sincerely,
Jon M. Fritzler
Attorney at Law
717 E. 22nd St.
Vancouver, WA 98663
Tel. 360.818.4431
Eml fritzlerlaw at outlook.com<mailto:fritzlerlaw at outlook.com>


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