Posted by Paisley WA on August 06, 2005 at 02:51:34:
NT
FLASH!! FYI for WA investors (and others) - Posted by Steve-WA
Posted by Steve-WA on August 05, 2005 at 16:40:11:
This directly applies to WA residential sales, and you may want to check your own state’s requirements.
John Merchant brought to my attention this morning something I did not know, and he just learned:
Sale of a MH requires a Seller’s Disclosure, just like Real Property.
Chapter 64.06 RCW states: “For purposes of this chapter, residential real property means: … . . (4) A mobile or manufactured home, as defined in RCW 43.22.335 or 46.04.302, that is personal property.”
Further, it requires a form 17 (seller’s disclosure) , “. . . unless the buyer has expressly waived the right to receive the disclosure statement, . . .”.
What this means to me is that even though I am selling a vehicle, it is defined as a residence and thus comes under this law, and from now on my Sales Agreement will include this statement: “Buyer [ ]does [ ] does not expressly waive the right to receive a completed seller disclosure statement.” And I will have a completed Disclosure on hand, in case they want it. Should be a standard carryover of “I don’t know’s”, but state law requires it, and I’d better be in compliance.
This is the kind of thing that could burn my a$$ in ocurt, if it ever happened. And it’s an easy one to prevent.
here’s a link to Chapter 64.06 RCW:
http://www.leg.wa.gov/rcw/index.cfm?fuseaction=chapter&chapter=64.06
Re: FLASH!! FYI for WA investors (and others) - Posted by JohnP
Posted by JohnP on August 06, 2005 at 06:46:14:
Thank you Steve,
I do have a standard disclosure on my sales contract, but I can definately use some of the disclosures on this form. Even though my state does not require disclosures, you still can be sued.
JohnP FL