Recent News

From time to time, parties that enter contractual relationships involving real property find themselves in circumstances where the document of conveyance or encumbrance, such as a vesting deed or a deed of trust, contains an improper legal description. In the case of the purchase and sale of real estate, this can leave parties with a… Read More

Real estate excise tax (“REET”) is generally owing on the sale of every parcel of real estate in Washington. REET is one tax that has actually decreased for most Washingtonians in recent years. Recently, the Washington State Department of Revenue (DOR) released the graduated real estate excise tax (REET) threshold increases for 2023, effective January… Read More

Most people when they hear the term “real estate contract” probably think of a purchase and sale agreement, but there are actually important distinctions, no matter how similar the two terms may sound. In the real estate contract, a purchase and sale agreement is a contract under which, in exchange for a purchase price paid… Read More

Parties often grant legal rights by way of written deeds. A deed affecting real property typically encumbers or conveys that property. In Washington State, parties may convey real property by way of a variety of deeds.   The most common conveyance deeds in Washington State include Statutory Warranty Deeds, Bargain and Sale Deeds, and Quit… Read More

Washington State affords great flexibility to parties that want to enter into a contractual arrangement. Indeed, in Washington State, parties to a contract do not have to create a written contract to have an enforceable agreement. Of course, oral contracts often create confusion and leave parties open to expensive litigation that they could have avoided… Read More

Buyers have many considerations when purchasing a home, including how to structure an offer, how to address financing, whether to have an inspection contingency, and more. Perhaps the first consideration that springs to mind, however, in the process towards purchasing a home is how much earnest money a buyer wants to put down in order… Read More

It is common for real estate to be encumbered by more than one mortgage or deed of trust.  Contexts vary greatly, from construction loans to borrowers just wanting to pull out equity using a home equity line of credit or traditional second mortgage.  In most situations, there is little question about which lender or lienholder… Read More

In the first part of the blog post, I explained what goes into a title policy.  This part of the blog post discusses how a title policy does and does not protect you. Coverage Generally Title insurance policies protect their insured against actual losses resulting from “covered risks,” which generally include:  (1) Someone else owns… Read More

Corporations, limited liability companies, and certain types of partnerships, formed in the state of Washington, are required to file annual reports and pay an annual license renewal fee to the Washington Secretary of State (the “Secretary”).  Each year, the Secretary sends notice to the entity that its annual report and fees are due by a… Read More