[WSBARP] Pocket Lawsuit?

[Rob Wilson-Hoss]

Paul, the goal of providing housing at below market rates, and the related
goal of avoiding an immediate equity grab by the purchaser by reselling at
market rates, are both useful. But that isn't your issue. 

 

As to issues with the property, you may just want to invest in a
professional evaluation at this time, and show the results to the purchaser,
before closing. That covers you for what you knew, and means the  purchaser
has notice to further investigate if anything does show up.  

 

I am just guessing as I don't know much about your circumstances, but that
may be a way to sleep better.

 

Rob

 

Robert D. Wilson-Hoss 
Hoss & Wilson-Hoss, LLP 
236 West Birch Street 
Shelton, WA 98584 
360 426-2999

www.hossandwilson-hoss.com
 <mailto:rob at hctc.com> rob at hctc.com

 

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From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Paul Neumiller
Sent: Wednesday, April 26, 2017 11:16 AM
To: 'WSBA Real Property Listserv'
Subject: Re: [WSBARP] Pocket Lawsuit?

 

To clarify, the perceived problems are with the paperwork.  When you deal in
the “affordable housing” world, the houses and paperwork have many weird
restrictions including multiple notes and deeds in order to protect the
non-profit entity.  This program is designed to provide the buyer with
affordable safe housing at below market rates but prevents the buyer from
turning around and trying to resell the house and gaining a windfall profit.
Buyer is now balking at the last minute with some of the paperwork (which,
admittedly, is not the model of clarity).

 



 

From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Laird, Katherine
Sent: Wednesday, April 26, 2017 10:41 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Pocket Lawsuit?

 

Did your client prepare and service a Form 17 disclosure document to the
buyer?  Were any of the alleged problems disclosed on the form?

 

 

Katherine Kramer Laird 
CenturyPacific, LP 
Suite 1680 
1201 Third Avenue 
Seattle, WA  98101 
Ph. 206-757-8892/Mobile. 206-915-0109 
Fax 206-757-7890 
 <mailto:katherinelaird at centurypacificlp.com>
katherinelaird at centurypacificlp.com 

    

 

From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Paul Neumiller
Sent: Wednesday, April 26, 2017 10:32 AM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Pocket Lawsuit?

 

I have a short fuse on this and it’s a new situation for me.  I represent a
non-profit organization who is selling a residence to an income-qualified
buyer.  Buyer has many complaints which may or may not be legitimate and has
threaten to consult with Buyer’s attorney.  Buyer now says that Buyer has
seen Buyer’s attorney and wants to move forward with the transaction and
close on the house.  I am concerned that Buyer thinks that Buyer can close
on the deal and then sue on the perceived problems.  Is there any case law
that either says that Buyer waives all problems that are known prior to
closing or that all of Buyer’s problems somehow merge into the deed?  Is
there any document that I should try to get the Buyer to sign now that
fleshes out this issue?

 



 

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