Landmark Ruling affects Transactions in WA State - 11/01/07 10:37 PM
Real estate contracts in Washington have undergone an enormous change greatly impacting buyers'future rights against sellers.
On March 1, 2007, the Washington Supreme Court in Alejandre v. Bull applied the Economic Loss Rule for the first time in Washington real estate case law. But it was only until recently that this ruling affected the transactions of real estate agents in Washington state.
Negligence v. Intentional Misrepresentation
On October 15, 2007, the MLS implemented a forms change that forced the buyer and seller to negotiate the level of the seller's responsibility for misrepresentation after the transaction closed. The court determined that because the parties had not negotiated this issue in … (3 comments)
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You're NOT searching MLS Listings - 11/01/07 08:11 PM
The NWMLS recently sent me a letter from their legal counsel that my website was in violation of one of the rules. The local MLS in the Pacific Northwest is a large one, with over 22,000 members and it just recently added a smaller MLS from a neighboring county so now it is actually even larger. Of course the MLS has a plethora of rules to ensure the tidy order of business while it's member brokers list and sell the real estate inventory.
The rule in question prohibits agents from using the word "NWMLS" or it's derivatives on any public website. It also says … (7 comments)
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