[WSBARP] Bargain & Sale Deed - Push Back - Friday Rant
Kary Krismer
Krismer at comcast.net
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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