[WSBARP] New Statewide Residential Forms Out Effective Today

[Kaitlyn Jackson]

Thanks, Kary!!

On Wed, Mar 3, 2021 at 9:48 AM Kary Krismer <Krismer at comcast.net> wrote:

> Just a heads up.  There are new statewide forms out that agents will be
> using starting today.  Mainly technical changes for the most part, but
> the most interesting substantive changes are:
>
> 1.  The financing addendum (22A) has a new option for a financing
> contingency that automatically expires after X days.  The buyer needs to
> cancel the contract before the time expires to get their EM back.  The
> remaining system is also an option, but they got rid of the unnecessary
> step of requesting loan information 10 days after mutual acceptance.
>
> 2.  The escalation addendum (35E) has provisions if the escalated price
> is miscalculated by the seller or a competing offer is not a competing
> offer.  But if no offer is sent at the competing offer the price remains
> at the non-escalated price.
>
> Most the other changes are technical, such as replacing the the
> confusing term "Selling Broker," but there are other minor changes such
> as making clear that the septic inspection is subject to the buyers
> subjective standard of approval.  So the listing agreements and basic
> purchase sale agreements (e.g. 21) are amended.
>
> --
>
> Kary L. Krismer
> 206 723-2148
>
>
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-- 
Thank you,

Kaitlyn R. Jackson | Attorney| DIMENSION LAW GROUP PLLC
130 Andover Park East, Suite 300 | Tukwila, WA 98188
t: *206.973.3500 *| f: *206.577.5090*| e: *kaitlyn at dimensionlaw.com*|
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