[WSBARP] Form 17 residential
Kary Krismer
Krismer at comcast.net
Tue Apr 3 13:09:31 PDT 2018
Marc raises a great point about agents striking the paragraph W
information verification period language, erroneously thinking that it
helps the seller. I recently had a multiple offer situation where 40%
of the offers struck that language.
Here's a slightly stressed out/annoyed Annie bothered by the fact that
agents don't seem to be listening to her! Paragraph w is covered at
about the 2:25 mark--and stay for the surprise at the very end!
https://www.youtube.com/watch?v=esd0eLwkBRo
Kary L. Krismer
John L. Scott/KMS Renton
206 723-2148
On 4/3/2018 12:57 PM, marc holmeslawgroup.com wrote:
>
> If they used an MLS form purchase and sale agreement, look for the
> Information Verification clause on the last page of that form. It
> creates a 10 day contingency period “to verify all information
> provided by the Seller or Listing Firm related to the Property.” More
> and more buyers are voluntarily striking this clause but if your
> client did not and you’re still within that time period, then that
> would seem like a good basis to terminate.
>
> It’s not clear who discovered the septic bedroom issue but if it was
> your client rather than the seller, then you may be out of luck if the
> Form 17 rescission window has run out and your client either
> affirmatively waived the info verification contingency or let it lapse
>
> Per RCW 64.06.0_40_(1), a seller has a duty to amend their Form 17
> when they learn of a material inaccuracy in the form except when it
> was brought to their attention by the buyer or someone acting on the
> buyer’s behalf.
>
> *RCW 64.06.040*
>
> *After delivery of disclosure statement—Additional
> information—Seller's duty—Buyer's options—Closing the transaction.*
>
> (1) If, after the date that a seller of real property completes a real
> property transfer disclosure statement, the seller learns from a
> source other than the buyer or others acting on the buyer's behalf
> such as an inspector of additional information or an adverse change
> which makes any of the disclosures made inaccurate, the seller shall
> amend the real property transfer disclosure statement, and deliver the
> amendment to the buyer.
>
> Marc Holmes
>
> Holmes Law Group PLLC
>
> 2303 W. Commodore Way, # 306
>
> Seattle WA 98199
>
> HolmesLawGroup.com <http://holmeslawgroup.com/>
>
> marc at holmeslawgroup.com <mailto:marc at holmeslawgroup.com>
>
> Ofc: 206-357-4224
>
> Cell: 206-849-0853
>
> *From:*wsbarp-bounces at lists.wsbarppt.com
> <wsbarp-bounces at lists.wsbarppt.com> *On Behalf Of *Kary Krismer
> *Sent:* Tuesday, April 3, 2018 11:26 AM
> *To:* wsbarp at lists.wsbarppt.com; nestor at pplsweb.com
> *Subject:* Re: [WSBARP] Form 17 residential
>
> Did they just waive the Form 35 inspection rights or also the Form 17
> (the second place for the buyer to sign on Form 17)?
>
> If just the former I'm not sure a buyer can still back out where the
> answer is wrong. I'd love to hear the answer of others. But chances
> are there's at least one answer on the Form 17, the answer to which is
> not N/A, which the seller failed to answer. My question would be
> whether you could ask for the answer to that question at this point
> and then back out based on the new Form 17 coming in?
>
> Kary L. Krismer
> John L. Scott/KMS Renton
> 206 723-2148
>
> On 4/3/2018 10:40 AM, nestor at pplsweb.com <mailto:nestor at pplsweb.com>
> wrote:
>
> Client comes in and waived inspection under Form 35. Seller
> provided a Form 17 that mispresented the capacity of the septic
> system. The way I see, Buyer can back out due to the mis
> presentation in spite of the waiver. Any other recourse?
>
> *Nestor Gorfinkel, Attorney at Law *
>
> *Admitted to practice law in Washington & Florida *
>
> *Florida Civil-Law (International) Notary*
>
> *Puget Property Legal Services, PC*
>
> *11900 NE First Street Suite 300*
>
> *Bellevue, WA 98005*
>
> *Tel. (425) 961-0519*
>
> *Fax. (888) 837-0616*
>
> *nestor at pplsweb.com* <mailto:nestor at pplsweb.com>**
>
> **
>
> *ATTENTION - This e-mail message and any attachment to this e-mail
> message may contain confidential information that is legally
> privileged. If you are not the intended recipient, you must not
> review, retransmit, convert to hard copy, copy, use or disseminate
> this e-mail or any attachments to it. If you have received this
> e-mail in error, please notify us immediately by return e-mail or
> by telephone at the phone numbers provided herein and delete this
> message. Please note that if this e-mail message contains a
> forwarded message or is a reply to a prior message, some or all of
> the contents of this message or any attachments may not have been
> produced by the sender.*
>
> **
>
> *P****Please consider the environment before printing this e-mail.*
>
>
>
>
> _______________________________________________
>
> WSBARP mailing list
>
> WSBARP at lists.wsbarppt.com <mailto:WSBARP at lists.wsbarppt.com>
>
> http://mailman.fsr.com/mailman/listinfo/wsbarp
>
>
>
> _______________________________________________
> WSBARP mailing list
> WSBARP at lists.wsbarppt.com
> http://mailman.fsr.com/mailman/listinfo/wsbarp
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20180403/cbdbea0f/attachment.html>
More information about the WSBARP
mailing list