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<p class="MsoNormal"><span style="font-size:11.0pt">Maureen, I agree with you 100%!<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">My very first response to this was how is an individual seller, or even legit individual buyer (not one of the “cash buy company guys) to know that this regulation is out there. When these “buyers” use their
own drafted purchase agreements that have virtually no information, there is no consistency at all. They already put escrow in the middle because they don’t have representation and we walk a very thin line in guiding FSBO transactions thru the process as it
is. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">I think a standardized PSA to be required to be used on non realtor transactions would be a better start to include all the appropriate disclaimers and State requirements. At that point, at least escrow can
say “this is not the appropriate PSA” and decline to close. Happy to give them a link to a State website where they can pull the State required form.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Also agree that escrow does NOT want to be involved in verifying anything that has to do with legislative requirements on either party. WE are not party to the PSA, and should not even get our selves into
the middle of its conditions. Our escrow instructions even state “all terms and conditions of the PSA have been met and are accepted by the parties”. What this would mean for us is that I create a very stout escrow instructions disclaimer, that in and of
itself will likely scare a buyer away, as well as having them sign off that we advised both parties to contact legal counsel, etc.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-family:"Tahoma",sans-serif;color:#0B5783">Robin Aberasturi</span></b><b><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:#0B5783"><o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-family:"Tahoma",sans-serif;color:#0B5783"><br>
VP/Corporate Escrow Manager</span></b><b><span style="font-size:11.0pt;font-family:"Tahoma",sans-serif;color:#0B5783"><o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-family:"Tahoma",sans-serif;color:#0B5783">Futura Title & Escrow, LLC</span></b><span style="font-family:"Tahoma",sans-serif;color:#0B5783"><br>
<br>
</span><span style="font-family:"Tahoma",sans-serif;color:#1F497D">Phone 208-955-9684 | Cell 208-250-3816</span><b><span style="font-family:"Tahoma",sans-serif;color:#0B5783"><o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> Legislativecommittee1 <legislativecommittee1-bounces@washingtonlandtitle.com>
<b>On Behalf Of </b>Maureen Pfaff<br>
<b>Sent:</b> Friday, December 20, 2024 3:43 PM<br>
<b>To:</b> George <execdirector@washingtonlandtitle.com>; legislativecommittee1@washingtonlandtitle.com<br>
<b>Subject:</b> Re: [Legislativecommittee1] HB1081 and HB1075<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal" style="mso-line-height-alt:.75pt"><span style="font-size:1.0pt;color:white">Thank you for jumping in on this, I see those additions now George. I meant for my earlier email to go out to the entire committee. This bill feels like a response
to a constituent's bad experience selling a house to one of the outfits that<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black">Thank you for jumping in on this, I see those additions now George. <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="color:black">I meant for my earlier email to go out to the entire committee. This bill feels like a response to a constituent's bad experience selling a house to one of the outfits that buy properties on a wholesale contract,
it looks good on the surface - who would be against extra protections for unsophisticated sellers? - but implementing it in any meaningful way seems unlikely without some way to get the word out to sellers. I'm still trying to understand how the people who
would fall under this new rule let alone those who they are trying to protect, will even know it exists. It would make more sense if the bill was proposing to create a new PSA for solicited real estate transactions not involving Realtors but, again, how would
these transactions be identified since the people involved are not licensed in any way so it's not as if they can be notified of the new rule? <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:black">And I agree with JP and Megan's comments from the other day that we should address the Interpleader rules and try and get some safe harbor language in the bill as I don't want our LPO's to be put in the position
of policing these contracts and I wouldn't want insurers open to claims if the transaction went through without these specific items properly addressed in the PSA because we didn't know it was a "solicited purchase" that fell under this rule. Maybe I'm making
a big deal out of nothing, but I wanted to ask the questions that popped into my mind as I reviewed the proposed legislation. <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"> <o:p></o:p></span></p>
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<p class="MsoNormal"><a id="OWAAM909795" href="mailto:legislativecommittee1@washingtonlandtitle.com"><span style="font-family:"Aptos",sans-serif;text-decoration:none">@legislativecommittee1@washingtonlandtitle.com</span></a><span style="color:black"> - do any
of our attorney members (or others) have thoughts on this? I'm not sure what safe harbor language would be best, definitely not my area of expertise. I don't think we would want to include any language requiring us to ask for proof of compliance, but I also
don't think we want legislation on the books that will leave us open to claims if we close a transaction that fell under these rules without our knowledge. Obviously if the buyer is a "We Buy Homes for Cash LLC" type entity we would be tipped off that those
elements might need to be present, but it still wouldn't be cut and dried because it would only apply if the property hadn't been actively offered for sale when the offer was made to the seller. There are also transactions where a random individual walks
up and knocks on the door of a home and solicits the homeowner to sell the property and there would be nothing to alert us to that being the case unless someone in the transaction tells us. <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="color:black">Maureen<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black"> George <</span><a href="mailto:execdirector@washingtonlandtitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">execdirector@washingtonlandtitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">><br>
<b>Sent:</b> Friday, December 20, 2024 11:53 AM<br>
<b>To:</b> Maureen Pfaff <</span><a href="mailto:maureen@olypentitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">maureen@olypentitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">><br>
<b>Subject:</b> Re: [Legislativecommittee1] HB1081 and HB1075</span> <o:p></o:p></p>
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<p class="MsoNormal">I agree. <o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">I did add a new section 5 about interpleaders. The first sentence probably more important than the second. Wasn’t sure if the statute should say anything about LPOs asking for proof of compliance so maybe the second sentence shouldn't be
included.<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Do you think the first sentence provides sufficient safe harbor language? I didn't want to single out LPOs as the only ones to be protected. <o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">George<o:p></o:p></p>
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<p class="MsoNormal">Sent from my mobile phone 206-437-5869<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt">From:</span></b><span style="font-size:11.0pt"> Maureen Pfaff <</span><a href="mailto:maureen@olypentitle.com"><span style="font-size:11.0pt">maureen@olypentitle.com</span></a><span style="font-size:11.0pt">><br>
<b>Sent:</b> Friday, December 20, 2024 9:33:48 AM<br>
<b>To:</b> George Peters <</span><a href="mailto:execdirector@washingtonlandtitle.com"><span style="font-size:11.0pt">execdirector@washingtonlandtitle.com</span></a><span style="font-size:11.0pt">><br>
<b>Subject:</b> Re: [Legislativecommittee1] HB1081 and HB1075<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span style="color:black">This feels like a response to a constituent's bad experience selling a house to one of the outfits that buy properties on a wholesale contract, it looks good on the surface but implementing it in any meaningful
way seems unlikely without some way to get the word out to sellers. I'm still trying to understand how the people who would fall under this new rule and those who they are trying to protect will even know it exists. It would make more sense if the bill was
proposing to create a new PSA for solicited real estate transactions not involving Realtors but, again, how would these transactions be identified since the people involved are not licensed in any way so it's not as if they can be notified of the new rule? <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="color:black">And I agree with Megan's comments from the other day that we should try and get some safe harbor language in the bill as I don't want our LPO's to be put in the position of policing these contracts and I wouldn't
want insurers open to claims if the transaction went through without these specific items properly addressed in the PSA because we didn't know it was a "solicited purchase" that fell under this rule.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black"> Legislativecommittee1 <</span><a href="mailto:legislativecommittee1-bounces@washingtonlandtitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">legislativecommittee1-bounces@washingtonlandtitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">>
on behalf of George Peters <</span><a href="mailto:execdirector@washingtonlandtitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">execdirector@washingtonlandtitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">><br>
<b>Sent:</b> Thursday, December 19, 2024 5:54 PM<br>
<b>To:</b> '1 WLTA Legislative Committee' <</span><a href="mailto:legislativecommittee1@washingtonlandtitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">legislativecommittee1@washingtonlandtitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">><br>
<b>Subject:</b> Re: [Legislativecommittee1] HB1081 and HB1075</span> <o:p></o:p></p>
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<p><span style="font-family:"Times New Roman",serif">I took a stab at this. Not sure if everything is needed, but I did think it was important to clarify that later references to a purchase contract ties to a specific contract between the buyer and seller.
I also think “currently publicly available” and “the real estate market” are vague terms…. And I don’t know if you can “solicit” property so maybe that phrase can be changed.</span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif"> </span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif">These suggested changes & my comments are in the attached redlined document and I don’t know how they’d be transmitted to whomever we might want to send them to.</span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif"> </span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif">No pride of authorship here…maybe too much to ask for; I’m just throwing it out for our discussion.</span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif"> </span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif">George</span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif"> </span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif;color:#1F497D">George Peters, WTP</span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif;color:#1F497D">Executive Director</span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif;color:#1F497D">Washington Land Title Association</span><o:p></o:p></p>
<p><a href="https://urldefense.com/v3/__https:/washingtonlandtitle.com__;!!DEULSLR5O6irNg!X5jvaaTcgbtenqwGHqx58rZ6gVLdN9ZR3Z2TO3fSa2fJPMGtLckQzbC_eHN4swD6W-pklc3uVS742IWSdfQPYlQb_S7_$"><span style="font-family:"Times New Roman",serif;color:#0563C1">https://washingtonlandtitle.com</span></a><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif;color:#1F497D">Mail: PO Box 328, Lynnwood, WA 98046</span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif;color:#1F497D">Delivery: 6817 208<sup>th</sup> St SW, #328, Lynnwood, WA 98036</span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif;color:#1F497D">206-437-5869 (Mobile)</span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif;color:#1F497D">206-260-4731 (Fax)</span><o:p></o:p></p>
<p><a href="mailto:execdirector@wltaonline.org"><span style="font-family:"Times New Roman",serif">execdirector@washingtonlandtitle.com</span></a><o:p></o:p></p>
<p><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> </span><o:p></o:p></p>
<p><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><img border="0" width="168" height="96" style="width:1.75in;height:1.0in" id="x_image003.jpg_x0040_01DB523E.26C1D9D0" src="cid:image001.jpg@01DB52FB.23C89B20" alt="WLTA Logo w-Ring Blue 1a"><img border="0" width="95" height="95" style="width:.9916in;height:.9916in" id="x_image004.jpg_x0040_01DB523E.26C1D9D0" src="cid:image002.jpg@01DB52FB.23C89B20"></span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif">This is a confidential communication intended solely for the named recipient. If you are not the intended recipient, please destroy it and call George Peters at 206-437-5869 immediately. Thank you.</span><o:p></o:p></p>
<p><span style="font-family:"Times New Roman",serif"> </span><o:p></o:p></p>
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<p><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> Legislativecommittee1 <</span><a href="mailto:legislativecommittee1-bounces@washingtonlandtitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">legislativecommittee1-bounces@washingtonlandtitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">>
<b>On Behalf Of </b>Jp Kissling<br>
<b>Sent:</b> Thursday, December 19, 2024 1:37 PM<br>
<b>To:</b> Maureen Pfaff <</span><a href="mailto:maureen@olypentitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">maureen@olypentitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">><br>
<b>Cc:</b> '1 WLTA Legislative Committee' <</span><a href="mailto:legislativecommittee1@washingtonlandtitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">legislativecommittee1@washingtonlandtitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">><br>
<b>Subject:</b> Re: [Legislativecommittee1] HB1081 and HB1075</span><o:p></o:p></p>
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<p><span style="font-size:11.0pt">It appears that we are going to be asked for a formal amendment to the bill is there someone willing to work on that? I will help where I can. </span><o:p></o:p></p>
<p><span style="font-size:11.0pt"> </span><o:p></o:p></p>
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<p><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> Maureen Pfaff <</span><a href="mailto:maureen@olypentitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">maureen@olypentitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">><br>
<b>Sent:</b> Thursday, December 19, 2024 11:52 AM<br>
<b>To:</b> Jp Kissling <</span><a href="mailto:jpkissling@fitico.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">jpkissling@fitico.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">><br>
<b>Cc:</b> '1 WLTA Legislative Committee' <</span><a href="mailto:legislativecommittee1@washingtonlandtitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">legislativecommittee1@washingtonlandtitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">><br>
<b>Subject:</b> Re: HB1081 and HB1075</span><o:p></o:p></p>
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<p><span style="color:black">From an escrow standpoint it seems like this bill would put the burden on us to confirm several things:</span><o:p></o:p></p>
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<li class="MsoNormal" style="color:black;mso-list:l0 level1 lfo3">Is the transaction the result of a solicited offer that meets the criteria of the legislation? <o:p></o:p></li><li class="MsoNormal" style="color:black;mso-list:l0 level1 lfo3">Are the specific items included in the contract in
<i>at least 10 pt font?</i><o:p></o:p></li><li class="MsoNormal" style="color:black;mso-list:l0 level1 lfo3"><i> </i>Did the seller affirmatively acknowledge the items?<o:p></o:p></li><li class="MsoNormal" style="color:black;mso-list:l0 level1 lfo3"> Were the timelines for requesting an appraisal or waiving the appraisal right met?<o:p></o:p></li><li class="MsoNormal" style="color:black;mso-list:l0 level1 lfo3"> Were the timelines for cancellation without penalty or further obligation met?<o:p></o:p></li></ol>
<p><span style="color:black">Most of these (other than maybe the font size) would be reasonably easy to confirm, we do this regularly in reading contracts to be sure that requirements have been met and/or waived. I think that if the cancellation notice met
the stated requirements in the contract there would be no need to interplead. Interpleading would come into play if the contract was rescinded outside of the stated timeline and then it would be handled as usual - mutual agreement or we would have to interplead.</span><o:p></o:p></p>
<p><span style="color:black">What concerns me is that we will have to determine if the sale is the result of a solicited offer or not in order to even know that these rules apply. Sometimes it's obvious, but not always and we all know how confusing these type
of nuances can be for the general consumer. </span><o:p></o:p></p>
<p><span style="color:black"> </span><o:p></o:p></p>
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<p><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black"> Jp Kissling <</span><a href="mailto:jpkissling@fitico.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">jpkissling@fitico.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">><br>
<b>Sent:</b> Thursday, December 19, 2024 11:02 AM<br>
<b>To:</b> Maureen Pfaff <</span><a href="mailto:maureen@olypentitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">maureen@olypentitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">><br>
<b>Cc:</b> '1 WLTA Legislative Committee' <</span><a href="mailto:legislativecommittee1@washingtonlandtitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">legislativecommittee1@washingtonlandtitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">><br>
<b>Subject:</b> RE: HB1081 and HB1075</span><o:p></o:p></p>
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<p><span style="font-family:"Arial",sans-serif;color:black">they have the right to cancel the contract within 4 days of receiving the appraisal
<span style="background:yellow">without penalty or further obligation</span>.</span><o:p></o:p></p>
<p><span style="font-size:11.0pt"> </span><o:p></o:p></p>
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<p><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> Jp Kissling<br>
<b>Sent:</b> Thursday, December 19, 2024 10:01 AM<br>
<b>To:</b> Maureen Pfaff <</span><a href="mailto:maureen@olypentitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">maureen@olypentitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">><br>
<b>Cc:</b> '1 WLTA Legislative Committee' <</span><a href="mailto:legislativecommittee1@washingtonlandtitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">legislativecommittee1@washingtonlandtitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">><br>
<b>Subject:</b> RE: HB1081 and HB1075</span><o:p></o:p></p>
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<p><span style="font-size:11.0pt">I feel we also need to have some clarification on the earnest money and how/ if, it will affect our ability to interplead funds RCW 64.04.220.</span><o:p></o:p></p>
<p><span style="font-size:11.0pt"> </span><o:p></o:p></p>
<p><span style="font-size:11.0pt"> </span><o:p></o:p></p>
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<p><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> Legislativecommittee1 <</span><a href="mailto:legislativecommittee1-bounces@washingtonlandtitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">legislativecommittee1-bounces@washingtonlandtitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">>
<b>On Behalf Of </b>Maureen Pfaff<br>
<b>Sent:</b> Thursday, December 19, 2024 9:43 AM<br>
<b>To:</b> </span><a href="mailto:legislativecommittee1@washingtonlandtitle.com"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">legislativecommittee1@washingtonlandtitle.com</span></a><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><br>
<b>Subject:</b> [Legislativecommittee1] HB1081 and HB1075</span><o:p></o:p></p>
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<p><span style="color:black">We still need a review of HB 1075 if anyone has a few minutes to take a look at it.</span><o:p></o:p></p>
<p><span style="color:black"> </span><o:p></o:p></p>
<p><span style="font-family:"Arial",sans-serif;color:black">I reviewed<b> HB 1081</b> but have a couple of questions for the committee. This bill would provide additional protections to the seller in a transaction where the buyer actively solicited the purchase
of a property that is not currently being offered for sale and where the Seller is not represented by a licensed Realtor. It would require that the contract specifically notes that the seller has a right to have an appraisal done by an appraiser of their
choosing and paid for by the buyer and that they have the right to cancel the contract within 4 days of receiving the appraisal without penalty or further obligation. For owners who do not choose to have an appraisal done they have the right to cancel the
contract without penalty or further obligation within 10 business days after execution. It also adds specific requirements for how these rights will be shown in the contract and that the seller must affirmatively acknowledge them.
<b>Would it fall on us to confirm that the contract in a transaction we close meets these requirements? If it doesn't and we close and insure the transaction would we be open to a claim down the road?</b></span><o:p></o:p></p>
<p><span style="color:black"> </span><o:p></o:p></p>
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<p><span style="font-size:14.0pt;font-family:"Lucida Handwriting";color:black">Maureen</span><o:p></o:p></p>
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<p><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:#222222">Maureen Pfaff, President and CEO</span><span style="font-size:10.0pt;font-family:"Times New Roman",serif"><o:p></o:p></span></p>
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<p style="margin-bottom:10.0pt"><b><span style="font-family:"Times New Roman",serif;color:#990000">WARNING – FRAUDULENT FUNDING INSTRUCTIONS</span></b><o:p></o:p></p>
<p style="margin-bottom:10.0pt"><b><span style="font-family:"Times New Roman",serif;color:#222222">Email hacking and fraud are on the rise to fraudulently misdirect funds. Please call your escrow officer immediately using contact information found from an independent
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