[WSBARP] Bargain & Sale Deed - Push Back - Friday Rant

Fri May 4 10:45:35 PDT 2018

I have frequently had the escrow not be willing to prepare the deed, to 
the point I just assume the attorney will have to do it.

Kary L. Krismer
John L. Scott/KMS Renton
206 723-2148

On 5/4/2018 10:38 AM, Jeanne Dawes wrote:
>
> Kary, I do the same thing, attach my Fiduciary Addendum to the Listing 
> Agreement which states a Special Warranty Deed will be used, and 
> provides the closing agent with the “special” language, which is not 
> contained in the LPO form Bargain and Sale Deed.  Unfortunately it is 
> also not contained in the LPO form “Special Warranty Deed” which is 
> why I include it in my instructions.  I get pushback from the closing 
> agent who routinely tell me they are not allowed to insert the special 
> language contained in my Fiduciary Addendum (which is incorrect), but 
> usually I just take their deed pop in the paragraph and return it.  It 
> is easier than arguing with them.  BUT, what I’ve learned from the 
> WSBA is that the LPO Board has decided rather to correct the Special 
> Warranty Deed by adding the “special” language, they are to remove the 
> form from the list of approved documents.  Go figure.
>
> /Jeanne/
>
> */Jeanne J./**//**/Dawes/*
>
> Attorney at Law
>
> Gore & Grewe, P.S.
>
> 103 E. Indiana Avenue, Suite A
>
> Spokane, WA 99207-2317
>
> Voice: 509-326-7500
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> Fax: 509-326-7503
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> jjdawes at goregrewe.com <mailto:jjdawes at goregrewe.com>
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> *From:*wsbarp-bounces at lists.wsbarppt.com 
> <wsbarp-bounces at lists.wsbarppt.com> *On Behalf Of *Kary Krismer
> *Sent:* Friday, May 04, 2018 10:26 AM
> *To:* wsbarp at lists.wsbarppt.com
> *Subject:* Re: [WSBARP] Bargain & Sale Deed - Push Back - Friday Rant
>
> There were two parts to your "rant."  One about warranty deeds, but 
> you also mentioned just getting standard title insurance, which I took 
> to mean not the "homeowner's" type policies.  If so, what's the 
> thinking as to that?
>
> As to the SWD, I tend to do a lot of transactions where the seller, 
> typically a bankruptcy trustee or probate estate administrator, has an 
> addendum which calls for a lesser deed, and often it gives them a 
> choice of different deeds.  I've yet to have a buyer push back on 
> that.  I suspect to the extent you're getting push back that it's 
> because you're coming in too late in the process, after an offer has 
> been made.  If you want your sellers to use a lesser deed then it 
> would probably be better to have an addendum prepared in advance and 
> attached to the listing, with any other standard terms you'd like to 
> tweak.
>
> Kary L. Krismer
> John L. Scott/KMS Renton
> 206 723-2148
>
> On 5/4/2018 10:13 AM, Rob Rowley wrote:
>
>     It always boggles my mind how much pushback you get in the
>     residential real estate industry when you represent a seller and
>     advise them to use a bargain and sale as opposed to the standard
>     form warranty deed per the MLS form.  Always insured with a
>     standard owner’s policy.  Brokers with decades of experience
>     scratch their head and say well that's only something that banks
>     can use when they do trustee deeds.  Even had an appraiser
>     recently voice issues on a residential appraisal claiming this
>     somehow affected the chain of title and thus value.
>
>     Is this just Spokane or is this a statewide thing?
>
>     Thinking out loud (I always know the answer – ‘impossible’) on how
>     hard would it be to have the residential real estate industry
>     change the standard form to allow an election as opposed to making
>     the warranty deed the default.
>
>     I got religion on the issue of limiting warranties over 20+ years
>     ago when at my old firm we ended up suing an elderly couple on an
>     old warranty deed and they end up having to go into bankruptcy. 
>     Over the decades I've had at least a handful of claims and
>     lawsuits involving warranty deeds when they could have been
>     eliminated or substantially mitigated.  Typically your
>     garden-variety fence and shared driveway disputes.
>
>     My Friday ramble.
>
>     **
>
>     image002.jpg at 01D33EAD*Robert R. Rowley*| Attorney at Law
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