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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>In my last year of law school I took a real estate class taught by the late John Gose and I remember very clearly two pieces of advice. First, never carry a second unless you are ready, willing, and able to pay off the first in full. Second, was always use a deed of trust rather than a real estate contract because the latter is too easily challenged by the vendee and converted into a judicial foreclosure thereby defeating its primary benefit of speed.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>As I recall, he felt that a vendee under REK was much more likely to get sympathy from a judge than a trustor under a deed of trust if only because judges rarely see them and, thus, would be more receptive to allegations of vendor wrongdoing.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>I’m curious if any title companies are less willing to insure title after a REK forfeiture than a non-judicial foreclosure.<o:p></o:p></span></p><div><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'> <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>Marc Holmes<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>Holmes Law Group PLLC<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>808 5th Ave N<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>Seattle WA 98109<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><a href="http://holmeslawgroup.com/"><span style='color:blue'>HolmesLawGroup.com</span></a><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>marc@holmeslawgroup.com<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>Ofc: 206-357-4224<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>Cell: 206-849-0853<o:p></o:p></span></p></div><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com] <b>On Behalf Of </b>Josh Grant<br><b>Sent:</b> Wednesday, June 22, 2016 11:14 AM<br><b>To:</b> WSBA Real Property Listserv<br><b>Subject:</b> Re: [WSBARP] real estate contacts?<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><div><div><div><p class=MsoNormal><span style='font-size:12.0pt;color:black'>I agree with Jeanne. RE contact is a preferred way for a seller to sell real property. Very simple to forfeit.<o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:12.0pt;color:black'>One suggestion. Because there is a Ct of Appeals case which says that if you put buyer must pay “reasonable attorney fees” that the buyer has the right to have that determined in court. The beauty of a real estate contract is that forfeiture is non-judicial. AS a result I put in the contract a straight dollar amount ( for example $1,000) as amount buyer must pay for attorney fees in the event a notice of forfeiture is filed. They either pay it or lose forfeit.<o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:12.0pt;color:black'> <o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:12.0pt;color:black'>Josh<o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:12.0pt;color:black'> <o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:12.0pt;color:black'>Joshua F. Grant, PS<br>Attorney at Law<br>P. O. Box 619<br>Wilbur, WA 99185<br>tel 509 647 5578<br>fax 509 647 2734<o:p></o:p></span></p></div><div><div><div><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black'> <o:p></o:p></span></p></div><div><div><p class=MsoNormal style='background:whitesmoke'><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black'> <a href="mailto:jjdawes@goregrewe.com" title="jjdawes@goregrewe.com">Jeanne Dawes</a> <o:p></o:p></span></p></div><div><p class=MsoNormal style='background:whitesmoke'><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black'>Sent:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black'> Wednesday, June 22, 2016 10:00 AM<o:p></o:p></span></p></div><div><p class=MsoNormal style='background:whitesmoke'><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black'>To:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black'> <a href="mailto:wsbarp@lists.wsbarppt.com" title="wsbarp@lists.wsbarppt.com">WSBA Real Property Listserv</a> <o:p></o:p></span></p></div><div><p class=MsoNormal style='background:whitesmoke'><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black'>Subject:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black'> Re: [WSBARP] real estate contacts?<o:p></o:p></span></p></div></div></div><div><p class=MsoNormal><span style='font-size:12.0pt;color:black'> <o:p></o:p></span></p></div></div><div><p class=MsoNormal><span style='font-size:12.0pt;color:blue'>I prefer a real estate contract over note & deed of trust when I represent the Seller. Forfeiture is quicker, and less expensive than foreclosure. If I represent the buyer, I prefer Note & Deed of Trust. <o:p></o:p></span></p><p class=MsoNormal><span style='color:black'> </span><span style='font-size:12.0pt;color:blue'><o:p></o:p></span></p><div><p class=MsoNormal><i><span style='font-size:18.0pt;font-family:"TypoUpright BT";color:blue'>Jeanne</span></i><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:blue'> <o:p></o:p></span></p><p class=MsoNormal><span style='color:black'> </span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:blue'><o:p></o:p></span></p><p class=MsoNormal><b><i><span style='font-size:18.0pt;font-family:"TypoUpright BT";color:blue'>Jeanne J.</span></i></b><b><i><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:blue'> </span></i></b><b><i><span style='font-size:18.0pt;font-family:"Bella Donna";color:blue'>Dawes<o:p></o:p></span></i></b></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:blue'>Attorney at Law</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:blue'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:blue'>Gore & Grewe, P.S.</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:blue'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:blue'>103 E. Indiana Avenue, Suite A</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:blue'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:blue'>Spokane, WA 99207-2317</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:blue'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:blue'>Voice: 509-326-7500</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:blue'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:blue'>Fax: 509-326-7503</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:blue'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:blue'><a href="mailto:jjdawes@goregrewe.com">jjdawes@goregrewe.com</a></span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:blue'><o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:blue'>INFORMATION CONTAINED IN THIS E-MAIL TRANSMISSION IS PRIVILEGED AND CONFIDENTIAL. <o:p></o:p></span></p></div><p class=MsoNormal><span style='color:black'> </span><span style='font-size:12.0pt;color:blue'><o:p></o:p></span></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='color:black'>From:</span></b><span style='color:black'> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>] <b>On Behalf Of </b>Roger Hawkes<br><b>Sent:</b> Tuesday, June 21, 2016 7:36 PM<br><b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br><b>Subject:</b> Re: [WSBARP] real estate contacts?<o:p></o:p></span></p></div></div><p class=MsoNormal><span style='color:black'> <o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Thanks, Roy. I assume the purchaser did not defend?<o:p></o:p></span></p><p class=MsoNormal><span style='color:black'> </span><span style='color:#1F497D'><o:p></o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black'> Roy D. Pyatt [<a href="mailto:roy.pyatt@landerholm.com">mailto:roy.pyatt@landerholm.com</a>] <br><b>Sent:</b> Tuesday, June 21, 2016 6:03 PM<br><b>To:</b> WSBA Real Property Listserv<br><b>Subject:</b> Re: [WSBARP] real estate contacts?<o:p></o:p></span></p></div></div><p class=MsoNormal><span style='color:black'> <o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Roger,<o:p></o:p></span></p><p class=MsoNormal><span style='color:black'> </span><span style='color:#1F497D'><o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>I prefer using a note and deed of trust in seller finance transactions like everyone else. But I have performed a couple forfeitures on real estate contracts in the last year or two and both went through nicely. It’s about a four month process to complete. Both forfeitures were for nonpayment.<o:p></o:p></span></p><p class=MsoNormal><span style='color:black'> </span><span style='color:#1F497D'><o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Roy <o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'> <o:p></o:p></span></p><p class=MsoNormal><span style='color:black'> </span><span style='color:#1F497D'><o:p></o:p></span></p><p class=MsoNormal id=undefined><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#3D3E40'><br></span><span style='font-size:12.0pt;color:#3D3E40'>Roy D. Pyatt | Attorney at Law</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:black'><br><a href="http://www.landerholm.com"><span style='text-decoration:none'><img border=0 width=206 height=45 id="_x0000_i1025" src="cid:image001.gif@01D1CC7B.E3764E00"></span></a></span><b><span style='font-size:10.0pt;font-family:"Times New Roman","serif";color:#E36C0A'><br></span></b><span style='font-size:10.0pt;color:#404040'>805 Broadway Street, Suite 1000<br>P.O. Box 1086<br>Vancouver, WA 98666-1086<br></span><span style='font-size:10.0pt;color:#F37421'>T: 360-696-3312 | T: 503-283-3393 | F: 360-816-2541</span><span style='font-size:10.0pt;font-family:"Times New Roman","serif";color:#F37421'><br></span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#F37421'><a href="https://protect-us.mimecast.com/s/lNV1B6tpl8sm"><span style='font-size:10.0pt;font-family:"Calibri","sans-serif";color:#F37421'>www.landerholm.com</span></a> <o:p></o:p></span></p><p class=MsoNormal><span style='color:black'> </span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:black'><o:p></o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black'> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>] <b>On Behalf Of </b>Roger Hawkes<br><b>Sent:</b> Tuesday, June 21, 2016 5:36 PM<br><b>To:</b> 'WSBA Real Property Listserv'<br><b>Subject:</b> [WSBARP] real estate contacts?<o:p></o:p></span></p></div></div><p class=MsoNormal><span style='color:black'> <o:p></o:p></span></p><p class=MsoNormal><span style='color:black'>I just had a client who wants to sell some land on a real estate contract. That is a rarity in my practice. What are your recent experiences with enforcing such or retaking the property upon failure of payment? Or waste?<o:p></o:p></span></p><p class=MsoNormal><span style='color:black'> <o:p></o:p></span></p><p class=MsoNormal><span style='color:black'>Roger Hawkes<o:p></o:p></span></p><p class=imprintuniqueid><span style='font-size:10.0pt;color:black'>----------------------------<br>This e-mail message (including attachments) is for the sole use of the intended recipient(s). It contains confidential, proprietary or legally protected information which is the property of Landerholm, P.S. or its clients. Any unauthorized disclosure or use of the contents of this e-mail is strictly prohibited. If you have received this e-mail in error, notify the sender immediately and destroy all copies of the original message.</span><span style='color:black'><o:p></o:p></span></p><p class=imprintuniqueid><span style='font-size:10.0pt;color:black'>----------------------------</span><span style='color:black'><o:p></o:p></span></p><div class=MsoNormal align=center style='text-align:center'><span style='font-size:12.0pt;color:black'><hr size=2 width="100%" align=center></span></div><p class=MsoNormal><span style='font-size:12.0pt;color:black'>_______________________________________________<br>WSBARP mailing list<br><a href="mailto:WSBARP@lists.wsbarppt.com">WSBARP@lists.wsbarppt.com</a><br><a href="http://mailman.fsr.com/mailman/listinfo/wsbarp">http://mailman.fsr.com/mailman/listinfo/wsbarp</a><o:p></o:p></span></p></div></div></div></div></body></html>