[WSBARP] New Statewide Residential Forms Out Effective Today

[McComb, Devin (Perkins Coie)]

We are expecting to cover the updates to these forms at the upcoming WSBA RPPT Spring CLE on April 2, and should be confirming the speaker on this topic shortly.

Unfortunately, I don’t have a link to the registration that I can share right now, but there will be a listserv-wide email with information very soon.

thanks,
Devin

Devin McComb | Perkins Coie LLP
PARTNER
1201 Third Avenue Suite 4900
Seattle, WA 98101-3099
D. +1.206.359.3260
C. +1.503.313.8081
F. +1.206.359.4260
E. DMcComb at perkinscoie.com<mailto:%20DMcComb at perkinscoie.com>

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Kailei Feeney
Sent: Wednesday, March 3, 2021 12:16 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] New Statewide Residential Forms Out Effective Today

Has anyone heard of any CLEs on the subject?

KCBA had one a few years ago with last big changes implemented in 2019…haven’t seen a similar offering yet this time around.

Kailei
Kailei B. Feeney
Attorney-at-Law
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From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> <wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com>> On Behalf Of Bryce Dille
Sent: Wednesday, March 3, 2021 11:02 AM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Subject: Re: [WSBARP] New Statewide Residential Forms Out Effective Today

How can we get a copy of the new forms

Bryce H. Dille
Dille Law, PLLC
2010 Caton Way SW Ste. 101
Olympia, WA 98502
Office: 360-350-0270
Cell: 253-579-5561

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Business Entity Creation and Management, Business, Government and Tax Law, Real Estate and Land Use, Residential, Commercial and Condominium Development Real Estate and Commercial Transactions & Closings, Including Performing Services as IRS Section 1031 Exchange Facilitator Estate Planning, including Wills and Trusts, and Probate Administration Representation Homeowners/Condominium Association Real Estate Developments Real Property Foreclosures and Forfeitures.

From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> <wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com>> On Behalf Of Kaitlyn Jackson
Sent: Wednesday, March 3, 2021 10:56 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Subject: Re: [WSBARP] New Statewide Residential Forms Out Effective Today

Thanks, Kary!!

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