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.  
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Weekly Membership Newsletter
August 21, 2018 • Stay Connected!
         
Please see the correction in the weekly Q & A below. Thank you and our apologies for any confusion.
 


QUESTION:  If a buyer uses an inspector who is not licensed and thus violates the terms of Form 35, paragraph 1, would that constitute a waiver of buyer's financing INSPECTION contingency?



ANSWER:  Arguably, yes. Form 35 is explicitly clear that buyer must either inspect the property personally or use an inspector who is licensed in conformity with RCW 18.280. If buyer uses an inspector in violation of RCW 18.280, buyer would breach the inspection contingency. If buyer breaches the inspection contingency, it is likely that a court would conclude that buyer also loses the benefits of the inspection contingency. This consequence is not spelled out directly by the form language but it is reasonable to conclude that a court would not allow a buyer the benefits of a contingency if buyer violates the terms of the contingency.
 
If broker has a buyer or seller faced with this situation, broker should advise his client to seek legal counsel for assistance in determining how a court would rule under the specific facts of the client's situation.

 

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!

  VHT Studios


  
 
 
Spokane REALTORS®: "We Believe in VA Financing!"
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A Dive into 2018 Member Demographics
(Source: Economists' Outlook) In the 2018 NAR Member Profile, females still make up 63 percent of all REALTORS®. This remains notably constant throughout years of experience (girl power!). Females dominate the profession, except in function breakdown; they make up a smaller percentage of broker-owners, managers with selling, and appraisers.
 
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Keep Going Even When You Feel Like Giving Up:
Q&A With Nikki Singh
(Source: YPN Lounge)  YPN Lounge Lee Davenport interviews Nikki Singh for her best advise for struggling real estate pros...
 
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Primary Mortgage Rates Survey
(updated every Thursday)  Source:  Freddie Mac
 
 August 16, 2018       30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  4.53%  4.01%  3.87%
 Fees & Points  0.5
 0.5
 0.4
 Margin  N/A  N/A  2.75



 August 9, 2018       30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  4.59%  4.05%  3.90%
 Fees & Points  0.5
 0.5
 0.3
 Margin  N/A  N/A  2.76



 August 2, 2018       30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  4.60%  4.08%  3.93%
 Fees & Points  0.4
 0.4
 0.2
 Margin  N/A  N/A  2.76



 July 26, 2018       30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  4.54%  4.02%  3.87%
 Fees & Points  0.5
 0.4
 0.4
 Margin  N/A  N/A  2.76



 July 19, 2018       30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  4.52%  4.00%  3.87%
 Fees & Points  0.4
 0.4
 0.3
 Margin  N/A  N/A  2.76



 
 UPCOMING CLASSES
 
Date Class Location CE  
23-AUG  CORE & More Longview 7.5 More info...
28-AUG  Current Issues in WA Res RE Wenatchee 3.0 More info...
29-AUG  To Disclose or Not to Disclose Yakima 4.0 More info...
29-AUG  Don't Get Whacked by the WACs Yakima 3.5 More info...
29-AUG  NAR Code of Ethics Bellingham 3.0 More info...
30-AUG  The Hotline Vs. The Bottom Line Walla Walla 7.5 More info...
06-SEP  NAR Code of Ethics Webinar Live Webinar 3.0 More info...
10-SEPThe Hotline Vs. The Bottom LineShelton7.5More info...
13-SEP  Financing Solutions to Close the Deal (CRS) Chelan   More info...
13-SEP  2018 Fall Business Symposium SeaTac 7.5 More info...
14-SEP  The Hotline Vs. The Bottom Line Gig Harbor 7.5 More info...
17-SEP  Principled Negotiations Olympia 7.5 More info...
18-SEP 1031 Exchange BasicsYakima3.0More info...
18-SEP Advanced 1031 ExchangesYakima3.0More info...
20-SEP  Agency Law & CORE Vancouver 7.5 More info...
20-SEP  NAR Code of Ethics Webinar Live Webinar 3.0 More info...
20-SEP  Real Estate Safety Matters Olympia 3.5 More info...
21-SEP  The Hotline Vs. The Bottom Line Vancouver 7.5 More info...
02-OCT NAR Code of Ethics Olympia 3.0 More info...
04-OCT Tech Edge SeaTac   More info...
18-OCT  NAR Code of Ethics Webinar Live Webinar 3.0 More info...

More Classes →


  
COE WEBINARS ARE BACK BY DEMAND
Washington REALTORS® will host COE Webinars starting in August to assist members with completing the mandatory training. Don't wait until the last minute, though! These webinars are capped and they fill up fast...
 
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