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Committee rejects amendment that would have required sellers to reimburse appraisal costs in unsolicited real-estate solicitations
Summary
Senators debated and rejected an amendment to Substitute House Bill 1081 that would have required owners of solicited real estate who back out of a purchase contract to reimburse the prospective buyer for the appraisal cost; the committee nevertheless gave the bill a due-pass recommendation to rules committee.
The Washington State Senate Business, Financial Services & Trade Committee on March 26 debated an amendment to Substitute House Bill 1081 that would have required sellers in solicited real-estate transactions to reimburse prospective buyers for appraisal costs if the seller did not proceed with the purchase contract.
Committee staff summarized SHB 1081 as providing property owners a right to an appraisal for solicited real-estate transactions, a right to cancel a purchase contract without penalty under certain conditions, a requirement that purchase contracts include a statement of…
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