About WaLaw Realty

The smart choice for savvy buyers and sellers.

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  Can you recommend a residential real estate attorney, specifically someone with experience in seller financing and other creative options?

  2 0 If I'm crossing some boundary or breaking some unwritten rule about solitication or self-promotion, forgive me... I am also an attorney witht the firm of Blackmon Holmes. The firm is focused on residential real estate and has been since 2005. We handle seller-financed and lease/option transactions all the time. Give us a call at your convenience (check our WaLaw site for contact info) Other options would be Michele McNeill and Kirk Mulfinger, both in Bellevue or environs. WaLaw Realty answered in Real Estate 8 months ago Answer, comment & read 2 more answers »

• Comment on WaLaw Realty's answer…

  0 0 Yep, that's a fair summary. There is no easy answer. I simply wanted to call out the need to keep an eye on the long term relationship as well. When neighbors declare war on each other, the only ones who win are the lawyers.... WaLaw Realty commented 8 months ago

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  Questions about new structures in residential lots.

  1 0 All good answers below, I won't bother including yet another link to Seattle DPD. If its in another city, then obviously contact the Dept of Planning and Development (name can vary) for the local jurisdiction. If you are in unincorporated King County contact the King Co. Dept of Development and Environmental Resources: http://www.kingcounty.gov/property/permits.aspx Generally speaking, call the local planning development and go from there. Finally, take note of the first answer below: Neighbor will hate you. I strongly encourage you to keep lines of communication open and to de-escalate conflict as much as possible -- wars between neighbors are always expensive and very unpleasant... WaLaw Realty answered in Real Estate 8 months ago Answer, comment & read 4 more answers »

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  Should we pay $1000 for the city's screwup?

  0 0 Good advice below. Its certainly not enough to merit hiring a lawyer because you'll probably spend that much if not more on the lawyer's time. So if you have the time and the inclination to fight the battle, its worthwhile because the county does correct itself occassionally. WaLaw Realty answered in Real Estate 9 months ago Answer, comment & read 3 more answers »

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  Is there a search engine for foreclosure listings?

  0 0 Doc, be VERY careful in buying at a foreclosure auction -- if that's your intent. When a bank forecloses on a home and sells it at auction, there is no guarantee whatsoever that you are getting clear title to the property. There are a lot of horror stories out there... http://getforeclosures.blogspot.com/2007/04/auction-horror-stories.html WaLaw Realty answered in Real Estate 9 months ago Answer, comment & read 4 more answers »

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  What's a Mid-Century Modern Home?

  1 0 Hmmmm, I don't know of any definition off the top of my head. I suggest you poke around a little on the internet -- including this nice post by somebody who clearly knows the topic. WaLaw Realty answered in Real Estate about 1 year ago Answer, comment & read 5 more answers »

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  What is a fair percentage for a buyer's agent commission?

  0 0 Well, I'm not the best guy to answer this question because I think buyer's agents shouldn't be paid by commission at all... Putting that aside, a couple of comments. First, the "Selling Office Commission" or SOC -- the commission paid to the buyer's agent -- is noted in the MLS listing (at least here in WA on the NWMLS). So, when your agent first punched up the listing, he knew it was a 2% commission. Alternatively, if the seller advertised a 3% commission but then reduced it, that is a clear violation of the NWMLS rules and your agent should take it up with his broker and the NWMLS. So I'm not sure why this is an issue now. BTW I believe him when he says he's never taken less than 2.5%. Particularly for homes <$1m, the SOC is almost always 3%. Second, under the current system, quite frankly your agent's commission is really not your business. This commission is offered by the seller as an incentive to get agents to "sell" the house. The process began when the seller signed a listing contract with his listing agent. That listing contract called for a total percentage commission, with some portion of it to be paid as the SOC, and the balance to the listing agent (the Listing Office Commission, or LOC). If you close on this house, the seller will owe the LOC to the listing agent and the SOC to your agent. You have no role whatsoever in that process -- other than closing, of course, which triggers the seller's obligation to pay. Given that reality, I don't think you should worry about what your agent is earning. Again, I don't like the current system because I think YOUR agent's compensation absolutely SHOULD BE your business. After all, if you hire any other professional the compensation is intricately tied to the service. Only in real estate is there a total disconnect between the two.  Finally, in this market? 2% is pretty good since a lot of agents are doing zero transactions thus making 0% commissions. WaLaw Realty answered in Real Estate about 1 year ago Answer, comment & read 3 more answers »

• Comment on WaLaw Realty's answer…

  0 0 Interesting point -- I'd like to know more about when a sale is "distressed" and when it is not. It can't simply be that the sale price is less than the purchase price -- the only evidence of distress in the question above -- because then many if not most sales would be considered distressed. Plus that one fact alone does not indicate "distress" just market reality. Or am I wrong? WaLaw Realty commented about 1 year ago

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  My conversion-condo building is looking at a multi-million dollar envelope repair, and the warrantee won't cover 10% of the cost.

  1 0 If its a multi-million dollar repair job, then your share is probably in the tens of thousands of dollars. That sort of money merits consulting an actual attorney, not a blog. On a similar note, what follows is not legal advice. It is a general comment. To determine your own specific legal rights, you need to consult an attorney. I doubt if you have any claim independent of the HOA's claim. If the HOA has no claim, then I suspect you have no claim. But there are lots of condo defect attorneys out there, give one a call and pay a little money to get this question answered. Again, if you're on the hook for >$10,000, it merits $500 in legal fees to determine your options. WaLaw Realty answered in Real Estate about 1 year ago Answer, comment & read 2 more answers »

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  10, 15, 30 year mortgage is all I hear about, are lenders into outside the box thinking?

  3 0 Whew! At last an easy one... Most loans do not incur a penalty for early pay-off. Get a typical 30 year loan -- confirming of course that there is no penalty for early payment -- and then simply make more than the minimum payment each month. That extra payment reduces the principal, thus saving you the interest on that principal over the remaining life of the loan -- and there are several easy ways to do this.  You could also, of course, put down more and borrow less.  Or, for that matter, just pay cash and don't even borrow for the purchase.  But you won't be buying anytime soon if that is the plan -- which is not necessarily bad! WaLaw Realty answered in Real Estate about 1 year ago Answer, comment & read 2 more answers »

• See all of my 0 Questions , 17 Answers and 4 Comments