[WSBARP] Homeowner assessments and Real estate contracts

[John McCrady]

Thank you; now the seller wants to be sure that the failure of the buyer to pay the homeowner's assessments is a default under the REC and triggers a forfeiture.
I think I would take Michael Brandt's advice and tighten the language to assure that "Assessments" includes Homeowner's Assessments.


John McCrady
Counsel
Puget Sound Title Company
5350 Orchard Street West
University Place WA 98467
253-476-5721
j.mccrady at pstitle.com<mailto:j.mccrady at pstitle.com>



Beginning July 26, 2021, recording fees for most documents recorded in Washington will increase by $100<https://www.piercecountywa.gov/DocumentCenter/View/105275/Recording-Fee-Schedule-Effective-Jul-25-2021->. Please be sure to collect recording fees accordingly. Due to the above increase, our Reconveyance fees will also be increased by $100.00

WARNING-FRAUDULENT FUNDING INSTRUCTIONS
Email hacking and fraud are on the rise to fraudulently misdirect funds.  Please call your escrow officer immediately using contact information found from an independent source, such as the sales contract or internet, to verify any funding instructions received.  We are not responsible for any wire sent by you to an incorrect bank account.


From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Paul Neumiller
Sent: Monday, August 29, 2022 10:02 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Homeowner assessments and Real estate contracts

John, remember that a Real Estate Contract is just another method of selling the property.  Even though the Vendor retains ownership of record, the vendee is buying the property.  As you know, once the loan is paid in full, the Vender delivers a fulfilment deed to the Vendee.  The Vendor is acting as the bank.  So, with this understanding in mind, ALL costs of the property are to be taken over by the Vendee.  Just as no lender under a standard deed of trust would want to be liable for HOA fees (why should they?  They are "only" the lender), no Vendor under Real Estate Contract would be willing to be responsible for HOA fees.


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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 Michael Brandt
Sent: Monday, August 29, 2022 9:42 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Subject: Re: [WSBARP] Homeowner assessments and Real estate contracts

John:

My practice is mostly association disputes and assessments are lienable.  As such, I would tighten up that language to exclude assessments from the association is that is the intent.

Michael D. Brandt
BRANDT LAW GROUP
1200 - 5th Avenue, Suite 1950
Seattle, Washington 98101
206.441.5739
206.299.9115 (fax)
www.brandtlawgroup.com<https://nam12.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.brandtlawgroup.com%2F&data=05%7C01%7C%7C7f1e1cb9c10e4a9a335108da89de2510%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637973884480134824%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=DQvRW5HaafSrS62GCTjc4PUoTGcidHGgvIr1Gs2dCl8%3D&reserved=0>

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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 John McCrady
Sent: Friday, August 26, 2022 3:32 PM
To: WSBA Real Property (wsbarp at LISTS.WSBARPPT.COM<mailto:wsbarp at LISTS.WSBARPPT.COM>) <wsbarp at LISTS.WSBARPPT.COM<mailto:wsbarp at LISTS.WSBARPPT.COM>>
Subject: [WSBARP] Homeowner assessments and Real estate contracts

The LPB 44 contains the following language:
TAXES, ASSESSMENTS, AND UTILITY LIENS. Purchaser agrees to pay by the date due all taxes and assessments becoming a lien against the property after the date of this Contract.

Has anyone seen the "Assessments" construed to include Homeowner's Association assessments?
We don't use Real Estate Contracts very much in Pierce County!


John McCrady
Counsel
Puget Sound Title Company
5350 Orchard Street West
University Place WA 98467
253-476-5721
j.mccrady at pstitle.com<mailto:j.mccrady at pstitle.com>



Beginning July 26, 2021, recording fees for most documents recorded in Washington will increase by $100<https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.piercecountywa.gov%2FDocumentCenter%2FView%2F105275%2FRecording-Fee-Schedule-Effective-Jul-25-2021-&data=05%7C01%7C%7C7f1e1cb9c10e4a9a335108da89de2510%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637973884480134824%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=Lgg7I52TffGxe%2FjcAXEkBBfaDVX0uontKL2gb4yTsc8%3D&reserved=0>. Please be sure to collect recording fees accordingly. Due to the above increase, our Reconveyance fees will also be increased by $100.00

WARNING-FRAUDULENT FUNDING INSTRUCTIONS
Email hacking and fraud are on the rise to fraudulently misdirect funds.  Please call your escrow officer immediately using contact information found from an independent source, such as the sales contract or internet, to verify any funding instructions received.  We are not responsible for any wire sent by you to an incorrect bank account.





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