[WSBARP] NWMLS Form - Bad Language?

[James Spencer]

Greetings Listmates:

 

Am I alone in finding this language on the NWMLS Form 22A really
dangerous?:

 

2. SELLER’S RIGHT TO TERMINATE.

a. Right to Terminate Notice. At any time ______ days (30 days if not
filled in) after mutual acceptance, Seller may give notice to Buyer that
Seller may terminate the Agreement at any time 3 days after delivery of
that notice….

b. Termination Notice. If Buyer has not previously waived the Financing
Contingency, Seller may give notice of termination….

 

My client’s agent says the intent of the language is that after 30 days
have passed, if the Buyer hasn’t secured financing, the Seller can cancel
the contract. This makes sense.

 

My read, however, is that the Seller can cancel the contract at any time
in the 30 days after mutual acceptance.

 

I understand that the intent of the language is the former, but it just
seems very poorly crafted to me. Should it not say “If after _____ days
(30 days if not filled in) from mutual acceptance Buyer has not waived the
Financing Contingency, Seller may give notice of termination….”

 

Anyone in touch with NWMLS that could get their opinion on it?

 

Thanks,

James

 

James W. Spencer, Esq.

 

1700 Seventh Avenue, Suite 2100

Seattle, Washington 98101

 

tel: (206) 420-4567 | fax: (206) 257-3076 | www.spectra-law.com

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