Read Get the Facts including the Legal Hotline Q & A
Get the Facts is a Membership update sent to Washington REALTOR® members and contacts each Tuesday.  
Click here if you are having trouble viewing this message.
 
Weekly Membership Newsletter
December 5, 2017 • Stay Connected!
         

QUESTION:  We have a listing and accepted a contingent offer (Form 22B). The buyers also received a contingent offer on their home. Buyer's agent sent over the Form 90L, asking our seller to consent to the buyer's sale of buyer's property to another contingent buyer. Seller signed. When seller signed the 90L, did seller waive the right to bump buyer's contingent offer with a non contingent offer?



ANSWER: When seller consented to buyer's sale of buyer's property to another contingent buyer, that allowed buyer to "sell" buyer's property. When buyer "sold" buyer's property, although the sale is pending closing, buyer SATISFIED buyer's home sale contingency. Once buyer's home sale contingency is satisfied, seller cannot use Form 22B, the home sale contingency, to bump buyer. In this situation, seller has no right or authority to send a bump notice to the 22B buyer and seller should not accept a second offer, conditioned on successfully bumping the first contingent buyer.
 

 

The Legal Hotline Lawyer does not represent Washington REALTORS or its members. To browse through our database of past Q & A's, visit www.warealtor.org. Attorney Annie Fitzsimmons writes the Legal Hotline Question and Answer of the Week. Please submit questions to legalhotline@warealtor.org . Please tell us your NRDS number when you e-mail the Hotline with your question.



Thank you, Corporate Sponsors!

  


  

Senate Banking Committee introduces repeal of Dodd-Frank Act
(Source: HousingWire) The bill, S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, contains policies which would roll back or eliminate key parts from the Dodd-Frank Wall Street Reform and Consumer Protection Act.
More →
  
  
 
TaxReform: NAR Issues a New Call for Action
The National Association of REALTORS® has issued a second Call for Action urging REALTORS® and industry professionals to speak up about Tax Reform. It's not too late to influence congress and help make the Tax Reform bill more favorable to homeowners and consumers. Washington REALTOR® member and Seattle King County REALTOR® President Sam DeBord recently authored this guest column discussing how the Tax Reform bill could affect us here in Washington. 
Take Action →


 
Real Estate Wednesdays
Participate in ringing the bells for The Salvation Army during the holiday season! It's a great way for the real estate industry to give back to our communities. Donations support programs throughout the year, including addressing homelessness, emergency assistance, domestic violence shelters, disaster relief and more. Download volunteer details. For more information, contact Lisa Borders at 206-217-1267 or email her at lisa.borders@usw.salvationarmy.org. 
More →


 
Don’t Just Sell a Home; Market a Lifestyle
(Source: Speaking of Real Estate) To help your listing stand out from the competition, focus on the lifestyle the property will help buyers achieve, in addition to common details such as square footage and number of bedrooms.
More →


 
Client Shareable: 5 Holiday Splurges to Avoid If You Hope to Sell Your Home Next Year
(Source: Realtor.com) The holidays are officially here—and while merrymaking and gift shopping are likely top of mind, you may have to keep some of those celebratory urges in check if you're planning to sell your home next year.
More →


Legal Hotline Video:
Reasonable Skill and Care
Can a Broker hire a photographer to shoot a remote property in order for their client to evaluate the home for purchase? Annie Fitzsimmons, the Washington REALTOR® Legal Hotline Attorney says yes you can. The real question is that Broker exercising “reasonable skill and care” when they are so geographically removed from the property?
 
More →


 
Primary Mortgage Rates Survey
(updated every Thursday)  Source:  Freddie Mac
 
 November 30, 2017  30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  3.90%  3.30%  3.32%
 Fees & Points  0.5
 0.5
 0.3
 Margin  N/A  N/A  2.74




 November 22, 2017  30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  3.92%  3.32%  3.22%
 Fees & Points  0.5
 0.4
 0.4
 Margin  N/A  N/A  2.74



 November 16, 2017  30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  3.95%  3.31%  3.21%
 Fees & Points  0.5
 0.5
 0.4
 Margin  N/A  N/A  2.74



 November 9, 2017  30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  3.90%  3.24%  3.22%
 Fees & Points  0.4
 0.5
 0.5
 Margin  N/A  N/A  2.74



 November 2, 2017  30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  3.94%  3.27%  3.23%
 Fees & Points  0.5
 0.5
 0.5
 Margin  N/A  N/A  2.74





 
 
 UPCOMING CLASSES
Date Class Location CE  
26-JAN Current Issues in WA Residential RELangley3.0More info...
26-JANThe Best of the Legal Hotline Langley4.0More info...
28-MAR NAR Code of EthicsWalla Walla  3.0 More info...
28-MAR Current Issues in WA RE Walla Walla 3.0More info...


More Classes →



Expires 12/31/2017 11:59pm. Discount offered 25% - Cannot be combined with any other offer. Can use as entire cart discount or individual products. Unlimited use until expiration date. Does not apply to Ethics Adventure products. Use code: JOLLY  Visit interactce.com for more information.