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
May 16, 2017 • Stay Connected!
Access Member Services:  warealtor.org | Legal Hotline | Tech Helpline
          
 
QUESTION:  I have a buyer client who just closed on a piece of property and two days later, a neighbor told the new owner that there was going to be a road assessment due in several months of $10,000. The seller had disclosed in the Form 17 that there was a pending assessment for road repair. In our PSA, we checked the box in regards to charges and assessment, items shall be prepaid in full by seller. The escrow company said that when they asked for demands from the HOA, the HOA did not disclose that there were any special assessments due other than annual dues, nor did the HOA make any comments about a pending assessment. In talking with the HOA, the road repair assessment has not been voted on yet. What can my client do at this point? Is the seller at all responsible for the future assessment?


ANSWER: The Charges and Assessments provision of the PSA obligates seller to pay assessments that were levied at the time of closing but not due until after closing. Based on the facts presented, this assessment has still not been levied. As a result, the Charges and Assessments provision had nothing whatsoever to do with this situation. If seller has any liability, it would have to be based on a failure to disclose. It is not clear that that seller has liability in that regard. From the facts presented, seller disclosed that a road repair assessment was upcoming. It appears that buyer did not conduct due diligence to determine the status or amount of that road assessment. While a seller is obligated to put buyer on notice of certain issues, buyer is required to conduct due diligence based on that notice. Neither broker nor the Hotline lawyer can advise buyer as to buyer's rights or remedies in this situation. Broker must advise his client, in writing, to seek legal counsel.
 
 

 

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.



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NAR Legislative Meetings Resources
There are several ways you can stay in the loop during NAR's Legislative Meetings taking place in Washington, D.C. this week.  Using social media, follow the hashtag #NARLegislative to get the latest tweets & posts.  Also, NAR has made talking points and infographics readily available.   [Read more...]
 

 
 
Housing Readies for First-time Buyer Shift
(Source:  REALTORMag) Get ready to see more first-time home buyer clients. In the first quarter of 2017, the number of new-owner households was double the number of new-renter households. About 854,000 new-owner households were formed during the first three months of this year, more than double the 365,000 new-renter households in that period, according to U.S. Census Bureau data. What’s more, it’s the first time in a decade that new buyers outpaced new renters.   [Read more...]
 

 
 
We have a Call for Action still active!
Over 1,800 Washington REALTORS® have spoken out.  If you haven't done so already, take action now. Washington REALTORS® Call to Action on SB 5239 addresses the impacts of the Supreme Court’s Hirst water rights decision, and SB 5254 addresses improving the Growth Management Act’s Buildable Lands Review process and provides funding for low-income/homeless housing programs.  Please, take action now...
 

 
 
May 20th Deadline Approaches
Washington Governor Jay Inslee will be appointing a new member to the Washington Real Estate Commission later this summer when Commissioner George Pilant of Tacoma concludes his twelve years on the Commission. The Washington REALTORS® are encouraging interested members to submit a letter of interest, resume and a completed application to serve on the Washington Real Estate Commission.   [Read more...]
 
 

 
 
10 Seller Lead Strategies
(Source: Realtor.com Results Series) "The realtor.com® Results Series team has been on the road sharing our top 10 tips for drawing in and converting seller leads. And now, we’re ready to share them online with you!"  [Read more...]
 

 
 
How to Create an Easy Social Media Schedule
(Source: Katie Lance) Katie Lance shares how to create an easy social media schedule that you can implement immediately!  Watch the video or read the article.  [Read more...]
 
 

 
Primary Mortgage Rates Survey
(updated every Thursday)

 

 
 
 
 
Upcoming Classes

Date Class Location CE  
17-May Into the Breach Dalles, OR 4 More info...
17-May CORE Dalles, OR 3 More info...
22-May Statewide Forms - Full Day Vancouver 7.5 More info...
24-May 2017 Legal Symposium Seattle 7.5 More info...
21-June Agency Law 3.5 Olympia 3.5 More info...
21-June  Best of the Legal Hotline Olympia 4 More info...

 

 
 
 

 
QUESTION from 6/3/2016:   Can you help me understand exactly what we are supposed to be reviewing during the HOA review? After the Buyer gets the necessary forms, what then? What are we supposed to look for in these meeting minutes and financial statements??
 
ANSWER:  There is not a global answer to this question. Every association is different and may or may not have different trouble spots. It could be that the association is operating in the red so buyer should expect a big dues increase. It may be that the minutes reveal a serious construction defect that will have to be remedied. It may be that there is a lawsuit pending by unhappy association members. There is no way that the Hotline lawyer or broker can tell any buyer what they should look for in the association documents. The documents are provided so that buyer has the opportunity to conduct their own review and determine if there is anything about the documents signaling to buyer that there could be trouble, of any nature, resulting from ownership and membership within the association.

 
 
(You will need your NRDS# & password to access the Legal Hotline.)  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 e-mail the Hotline with your question.