If you are selling a property in Washington State, you will without a doubt be hearing about the Seller Disclosure Statement. This statement is also known as Form 17. Today we are going to explain Form 17 in a little more detail and help to try to clear up any questions that you might have about what exactly this form is.

Form 17 is a mandatory, required form, that is mandated by the state of Washington. If you are selling a property, you will most likely have to fill one out. In short, Form 17 is a detailed questionnaire about a property, asking all sorts of questions about the condition and state of the property. The seller must answer questions about the conditions and history of the property to the best of their abilities.

If you are selling a newly constructed home, a manufactured home, a mobile home, a residential dwelling of up to four units, or certain timeshares or condos, you will have to fill out Form 17. There are a few cases that are exceptions in which the seller will not have to fill out Form 17. A few of these exceptions include foreclosure properties, or deed-in-lieu of foreclosure properties, properties that are being transferred in a divorce settlement or being sold to a direct family member, or if you have owned the property you are buying in the last two years.

The questions on Form 17 are pretty straight forward and to the point. The seller is asked a series of questions and the list is pretty short. The seller has only three options for answering questions. They can answer Yes, No, or I Don't Know. It is imperative that the seller answers the questions one hundred percent truthfully. If the seller answers with yes and the answer is anything short of 100% yes, the seller could be sued. Same with a no answer if the answer is anything else than 100% no. You will often find that the seller often goes with the "I Don't Know" option to avoid any potential problems with questions that they may not be for sure of the answer to.

As previously stated, the questions on the form are pretty straightforward. The seller will be asked if they have legal authority to sell the property, and if if there are any boundary encroachments or disputes on the property. They will also be asked whether or not there is a private road, easement, or right of way limitations that may affect the property. The form also asks if there are any zoning violations or unusual restrictions that affect the property. The questions are all pretty much straightforward and easy to understand.

The seller must sign the form and date it when it is complete and the buyer must do the same to acknowledge that they have received and read the form and are aware of the facts relating to the form. The Seller Disclosure Statement, also known as Form 17, is one of the more straightforward and easy to navigate documents in relation to home buying or selling. However, by choosing a trusted agent like Hamid Ali, you will be sure to cover all bases and have any questions that you might have answered right away!

Homebuying is full of charges and fees that you might not be expecting or anticipating, and today we are going to talk about another little known charge. If you are buying a home in King or Snohomish County that was built in the last 15 years, this article may apply to you! Read on to find out more about the Sewer Treatment Capacity Charge.

You might be wondering what exactly the sewer capacity charge is. It is a charge that is billed to residents that are in the King County water treatment service area in addition to sewer service. The charge is only billed to customers who connected to the King County sewer system after Feb. 1, 1990. The purpose of the charge is to help the county's waste water treatment plants keep up with the growth in our area. When more people connect to the sewer service, the county has to add more pipes, more workers, new pump stations, new treatment plants, etc. The sewer capacity charge helps to offset those costs for the county. The money for the sewer capacity charge goes to expand the capacity of the current King County waste water treatment systems and also to build new water treatment facilities when needed.

Every property that was connected to the King County sewer system on or after the Feb 1, 1990 cut off date is required to pay the sewer capacity charge. The charge is dispersed out over a 15 year period, so if you are buying a house that is less than 15 years old, you will have an additional monthly cost to deal with. The 2012 capacity charge is an additional $51.95 per month. The charge is billed every three months for 15 years, or until the property's charge is paid in full. Multifamily housing and non residential housing will have their own different charges for the sewer capacity charge, and you can contact the King County Capacity Charge Program staff to find out about those fees. You should also know that any time during the fifteen year charge period you can pay off the remaining amount at a discount.

The sewer capacity charge is the responsibility of the current owner to take care of. The reason for this is because the charge is triggered by the connection to the King County sewer system and not by a new development. One good thing about the charge is that any increases are not applied retroactively. Your charge will stay the same for the entire duration. The only way that an increase will apply is to new connections only and will not be applied retroactively. If you purchase a house from a previous owner, you will be responsible for the remainder of the fifteen years of charges that are left. You will receive a capacity charge bill every three months in addition to your regular sewer bill from your sewer service provider. It is very important that you pay your sewer capacity service charges every time you get a bill for them. Not paying this fee can result in a lien being placed on your property. This can happen if you have unpaid or delinquent charges.If you have any additional questions about the sewer treatment capacity charge, feel free to ask your real estate agent. They will be happy to help answer any questions that you may have!

By this point in your home buying journey, you are probably familiar with title insurance and what it does to protect you from any trouble that may arise regarding the ownership and title to your property. Today we are going to dig a little deeper into the world of title insurance and explain the title insurance report to you. The title insurance report is a preliminary report that the title insurance company will issue to you after they perform their research on your property. The Title Insurance Report will explain to you any issues that might effect the insurance policy, such as any disputes, etc. which need to be cleared up before the policy can be issued.

The most important part of the report is the "exceptions". This is a list of the items that have to be cleared up before the title insurance company can cover you. Some of the things that may be on the list are listed below.

Taxes/Assessments

The Title Insurance report will show you the amount of taxes regularly assessed to the property, and whether or not they are paid or delinquent. Don't be alarmed if back taxes are owed on the property, since this will be taken care of by escrow during the closing. Something to pay attention to is if the property taxes are unusually high or unusually low. Your agent can help you to pinpoint the reason for this and decide what to do about it.

Vesting

This will tell you exactly who owns the property. Check to see that the seller's names are listed on the title report as the vested owners. The report will tell you the degree, quantity, nature and extent of the owner's interest in the property. This is a very important section to check out carefully, since if someone is not the legal owner of the home, they can not sell it to you.

Matters of Identity/Pending Actions

Sometimes there will be judgements or liens against the seller of the property. If this is the case in your situation, these things will have to be released and recorded prior to the sale of the property. The same goes for civil legal actions that are pending against a property. They will have to be taken care of prior to sale. You might ecounter this if the seller is currently going through divorce proceedings that might involve the house. The other most common type of pending action against a property will be when the property is still in probate after the owner's death. These are special circumstances where you might have to do something differently or wait until the property is released before closing.

Deeds Of Trust

If the seller has mortgage obligations that must be met before sale, these will also be listed. Do not panic if these are listed on your Title Insurance Report. Funds in escrow from the seller's proceeds of the sale will go to pay these fees prior to closing.

Joint Use

This is a very common listing on a title insurance report. If the property you are buying includes common areas that are to be used by other neighbors, such as driveways, shared walls, or easements, these will be included in the report also. This is so that each party will know exactly what the boundaries of the shared property is, and if there are special maintenance agreements,etc for shared property. These third party use issues are very common so do not be surprised if they show up on your title insurance report.

Legal Description of Property

The title insurance report will also list the legal description of the property. This is not be confused with the street address. The legal description of the property is usually nothing more than a long, confusing, description of the exact parcel of land that you are purchasing.Your real estate agent can help you determine that the legal description is in fact the exact same piece of property listed on your purchase agreement.

The main purpose of the title insurance agreement is to make sure that all issues that could be keeping a property from being insured are listed and addressed prior to the sale. Take the time to carefully examine your title insurance report to make sure that you have all your bases covered before proceeding. Some of the items listed may be confusing or hard to understand. Make sure that you have a trusted real estate agent like Hamid Ali help you through the process.

You are almost there! At the end of your home buying journey, you will want to do a final walk through of the property. This final walk through is not mandatory, but it is advised that you make sure to take the time to do one. This walk through should happen right before the close of escrow, and right before the final papers are signed. Although you might think that this walk through is unnecessary, it is important that you do it.

There are several reasons that you should do your final walk through. The first reason is to make sure that the seller has completed any repairs that they agreed to make. You can get receipts for all of those repairs and make sure that they have been completed to your satisfaction. You will also get a chance to make sure first hand that they buyer has continued to maintain the property and not let it get run down or let the lawn get out of hand, etc.. The main point of the final walk through is for you to get a first hand look at the property one last time and to make sure that it is in the same condition as it was when you agreed to buy it.

Please don't make the mistake that a final walk through can or should take the place of a professional inspection. That is not true. You should still have a professional inspection done after any repairs have been made, but the final walk through is just for your benefit to make sure you are satisfied with the condition of the home. Also remember that you always need to do your final walk through after the sellers have completely finished moving out or the tenants have moved out. This way you can make sure that the home was not damaged during the final move out. If there are significant changes to the state of the property since your last inspection, you will need to talk with your agent about the possibility of asking for an additional fee at closing to cover the costs of the damage or repairs that have not been completed. You will usually still need to continue with the closing or you will be in breach of contract and can lose your earnest money, but your agent can help you with how to handle any issues that might arise at the final walk through.

Basically, the final walk through is not one last chance for you to back out of the home purchase. You have already agreed to buy the home. The final walk through is simply a last chance for you and your agent to handle any issues that might have arose since the inspection, or damage, etc that might have been done while the seller was moving out. The final walk through offers protection for you, the buyer, and you should not waive the right to a final walk through. It should not be a time of worry, it is just like one last check up for your new home. If you are having questions about the final walk through process, give Hamid Ali a call today, and he can help you get your questions answered!

So, it is time! You have found the home of your dreams, and you are sure it is the perfect one! You have your earnest money ready, you are pre-qualified for your loan, and now it is time for that all important step: making an offer! This article will give you more details about the process of making an offer on a home, and will help you with any questions that you might have.

The first step is meeting with your agent. You and your agent will come up with a reasonable offer based on factors such as the selling prices of similar homes in the area, how long the home has been on the market, etc. You will then need to fill out a Purchase Agreement Form. You need to be prepared with a lot of information, because the Purchase Agreement Form requires a lot of detailed information about the property that you are wanting to purchase. Your real estate agent will be help you with this information and assist you in filling out the forms.

There are a few different things that will have to be included in your offer. Here is a short list:

Pre-Approval Letter From Mortgage Company

You will need to pre-approved for your loan prior to writing the offer (or have proof of funds if you are not going to be needing financing). You will need to have the pre-approval letter from your mortgage lender to give to your agent. They will in turn pass it onto the seller's agent. You will have to include this along with the mode of financing, and the percentage you want to put down. Also include whether or not you want the seller to pay any closing costs.

Earnest Money

You will need to have your earnest money ready to make a good impression and show the seller that you are serious about buying the property. It is usually 3-5% of the purchase price, but your agent can help you decide on just the right amount.

Price

You will also have to include the price that you are offering to pay for the property. Remember that the price listed is not what you have to offer, but only indicates what the seller is willing to accept at the current point and time. It is not a bad idea to offer less than the listing price if you can not afford the listing price. There is always the chance that the seller can say no, but there is also the chance that they can say yes!

Possession.

You must include when you wish to take possession of the property. Usually this is done immediately after closing, but might be a different day if there are unusual circumstances. You also need to include any personal possessions that you want the seller to include, such as window treatments, appliances, etc..

Closing Date

You also will need to specify which date you would like to transfer ownership of the property, or close on the property. This is usually within 3-10 weeks. This is where you will sign the final papers on your property, have certified funds, and take ownership. You also need to include whether or not you will have an inspection done. This is usually done within 3-5 days of an agreement being reached.

Contingency, Miscellaneous

If you are going to have any contingencies for the purchase of the property, such as a title contingency or a sale that is contingent on the sale of another property, you will need to list that in the offer. Also you will need to include any miscellaneous items, such as a home warranty or obligation for city inspection if one is required. You will also need to include a seller disclosure form, where the seller answers specific questions about the property. You will also need the legal description of the property, which is the written words describing a properties exact location. This is much different than the street address.

After your offer is submitted, it becomes a waiting game. Usually you will know something within 24 hours. The seller can either accept your offer, and you will then move forward in the home buying process, or reject your offer. The seller also has the option to counter your offer with a proposed amendment. It is important to remember not to engage in a "bidding war" with other potential buyers and end up bidding more than you can afford. You have to know when to walk away.

If you are looking for a real estate agent that can help you write up an offer, or if you just have questions about the offer process or the home buying process in general, we can help you! Contact Hamid Ali today for all of your real estate needs!

Congratulations, you are almost there! The home buying process can be a stressful one, and sometimes a long one, so it is perfectly normal that you might want to get it over with as soon as possible! The ultimate goal, the finish line, if you will, is getting those coveted keys so that you can begin moving in to your new home! So, the real question is, when are you gonna get those keys? Today, we will try to answer that question for you!

The "rules" in Washington State say that for the new owner to get possession of the home that they are buying that the transaction must be "closed". If you want to get really technical, the NWMLS contracts that are normally used in real estate transactions say that the seller has until 9pm on the day of closing to have all of their belongings out of the house. That rule is in place so that the seller can finish moving out and tying up any loose ends on the day of closing. So, remember, you might close at 9am, or noon, or 2pm, but you still don't "technically" HAVE to get possession of the home until 9pm on the date of closing!

A lot of people have been given misinformation as to what closing actually is. Most people think that closing is the signing of the contract. This is not actually true. The signing of the documents can take place days before the official closing on the property does. The signing of the documents and the money being transferred to the escrow company is not closing. It is simply "signing". The closing is actually something else entirely, that not many people understand. The closing of the property is when the deed is actually recorded at the county recorder's office. The purpose of this is to make an official record of the sale listing you as the new owner of the property and taking the property officially off the market. When the deed is recorded at the county recorder's office, and only then, is when the actual closing of the property occurs. Some counties have a website where you can check the status of the recording of the deed, or even watch it in real time! Ask your agent if your county has something like this available where you live.

Now, there are exceptions to the "only at closing" rule. Sometimes you may get your keys before that, sometimes you might have to wait until after. As you will learn in the home buying process, many different things depend on you being flexible, and things do not always go according to plan. Usually you will discuss this with the seller and have a plan for possession of the house already in place when you sign the contract. Sometimes the seller may need a few extra days in the house, or sometimes the buyer is in a situation where they have to move in early. You just have to be flexible and work around the needs of the other party. Usually, your agent will not advocate for early or late possession. There is a reason that everything needs to be done by the book.

If you are buying a home in Washington State, you might have received a pamphlet from your realtor titled "The Law Of Real Estate Agency". You might be wondering what this pamphlet is and why you are receiving it.Today we are going to try to explain this pamphlet in a little more detail and help you understand it. It is Washington State law that anyone dealing with a real estate agent, whether it be buying or selling, receive a copy of The Law Of Real Estate Pamphlet. This pamphlet must be presented to the customer before they start doing business with the agent.

The purpose of this pamphlet is to clearly define the duties and responsibilities that real estate agents have by law to their customers. The pamphlet is supposed to help clients know exactly what their real estate agent is supposed to be doing for them, and to inform clients of their legal rights. It is a very good place to start on your real estate journey.

The first part of the pamphlet will explain the definitions of some common terms that are used in day to day real estate transactions. You should familiarize yourself with these terms, since they will be used often during your home buying or selling experience. The next part of the pamphlet describes the realtor's relationship with the public and the duties of a realtor in general. They have separate sections regarding the duties of a buyer's agent and the duties of a seller's agent. There are also details about the duration of a relationship between buyer and seller, and also a special section on commission. The pamphlet goes on to explain about interpretation and liability and also has a small section about short sales.

After receiving the pamphlet, read through it thoroughly and be sure to ask any questions that you might have. By choosing a trusted agent like Hamid Ali, you know that you are choosing to have someone in your corner and help you out in any way necessary.

When you buy a home, the title to your property is your certificate of ownership, just like the title to a car. But, unless you are the first owner of a property, many other people may have owned the property before you. How do you know for certain that none of the previous property owners is going to try to cause trouble and try to claim ownership to the property? What if there are outstanding taxes or liens on the property that you didn't know about? What if the seller is not the true owner of the property? These are all scary questions, but unfortunately, they can also become a scary reality for many homeowners.

This is where title insurance comes in handy. Title insurance can cover your losses in case any problems arise associated with the title aspect of your new home. Studies show that anywhere between one half and one third of all transactions will show a discrepancy or problem in the title of a home sale. Title insurance can take care of these issues and problems, usually without the homeowner even knowing about it! Now, that is peace of mind!

The title company will research your title against all public records to make sure there is nothing that looks like it could be a problem later down the road. Then, if any of those problems do arise later, the title company will cover all costs and fees associated with fixing the issue. Pretty much, the title insurance company is a great advocate to have in your corner!

There are two types of policies, the lender's policy and the owner's policy. If you are being issued a mortgage, you must have a lender's policy. The lender's policy will cover your lender if anything arises with the title to your property. You might also need an owner's policy. The owner's policy will be the policy that covers your losses. Bottom line: The lender policy protects the loan company, the owner policy protects you.

Title Insurance can sometimes be very tricky and confusing. A lot of times there are a lot of questions about the process that you might need answered. By choosing a trusted real estate agent like Hamid Ali, you will be able to get all of your questions answered, and feel confident that you are making the right choice!