You always do a great job, Annie! Thanks for the clear and concise instruction. Took your forms class last fall and was so glad you covered the 22B, as I was heading into a contingent offer. The instructions online are helpful, but your instruction took the understanding that much higher!
I just had a circumstance arise where the buyers delivered only the first page of the PSA for the sale of the buyers' current home. The listing agent was misled by this video into thinking that the buyers were in default as a result of the deficient notice. That is not the case. When a notice of satisfaction of a property sale contingency does not include a complete copy of the PSA for the sale of the buyers' other property the consequence is that the notice of satisfaction is ineffective. The buyers are NOT in default, nor is the property sale contingency waived. Rather the notice is a nullity -- it didn't happen. The PSA remains in effect and is still subject to being bumped.
At 12:05 the graphic and commentary state that if a Buyer enters into a Form 22B or Form 22C contingency, then Buyer is automatically in default. Annie intends to state that if Buyer enters into a Form 22B contingency (Buyer's Sale of Property Contingency) or a Form 22Q contingency (Buyer's Pending Sale Contingency Addendum), then Buyer is in default.
If you are a Washington REALTORS member, please direct your question to Annie at our Legal Hotline here: www.warealtor.org/membership/for-members/legal-hotline. Thank you!
Hi Silvia, one of our education partners is holding a Statewide Forms class on March 24th: members.thurstoncountyrealtors.org/education-calendar/Details/in-person-class-understanding-the-statewide-forms-3-clock-hours-462102?sourceTypeId=Website
You are hypermicroregulating Property That Does NOT BELONG TO YOU. The Property Owner Holds The ENTIRE POWER In EACH AND EVERY DECISION REGARDING THEIR PROPERTY. What Planet Do You Think You're On?
