[WSBARP] Form 17 residential

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>**
>
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