I’ve been a little concerned by comments from Buyers and Sellers I’ve chatted with recently regarding their reliance on a new tool called the “Zestimate”. They seem to be putting more value in a number created by an algorithm then they are in their own personal judgment, or the opinion of...

I “Close” on the purchase of my new home next week, Thursday. It’s a much larger home than I previously lived in so I purchased some additional furniture for the third bedroom and living room. I put it on my credit card. I’m so excited. Unfortunately, it’s very likely this Buyer no...

If you’ve been looking for a condominium to purchase, by now you’ve seen something that’s listed for sale called a “Co-Op”. A “Co-Op” or, Cooperative is a form of ownership in real estate. In its’ simplest form, a Cooperative is a non-profit entity that owns, and has title to,...

So…what is a 1031 Exchange and does it make sense for an owner to pursue this mechanism to defer their tax liability when they sell their property? Does their property qualify for a 1031 Exchange? What needs to happen to defer their tax liability into the future?A 1031 Exchange is a method for...

The most recent Financing Addendum to the Purchase and Sale Agreement includes new language in Section 2 titled the Seller’s Right to Terminate. Here is the new language.a.)Right to Terminate Notice: “At any time ______ days (30 days if not filled in) after mutual acceptance, Seller may give...

Real estate brokers occasionally receive a request from sellers or buyers to simply “write-up” the transfer of real property on our state approved real estate forms. This can occur between family members, friends and acquaintances, landlords and tenants, for-sale-by-owners, etc....

In this period of escalating prices in the Seattle Area, along with the low number of transactions, appraisers are sometimes finding it difficult to locate comparable sales to substantiate the escalated price, as a true market value for the lenders. When an appraisal comes back that is lower than...

In this market where buyers are waiving inspections, presenting Offers without financing contingencies and, signing-off on their review of the Re-Sale Certificates without questions (condominiums), we’re also seeing “Escalation Clauses” that increase their Offers far above the List Price. I...

Understanding Your Resale Certificate As the seller of a condominium in Washington State, you’re required to supply the buyer with a resale certificate and all supporting documentation shortly after you enter into a purchase and sales agreement with the buyer. The HOA’s professional...

There have been some changes in the policies which govern condominium loans that are insured by Fannie Mae and Freddie Mac.a.)The most significant change in policy allows for a loan to an owner-occupant, or condominium purchased as a second home (vacation home) to be insured by Fannie Mae and...