Many real estate bloggers are writing about the change in the real estate law, HB2791 which covers distressed home sales in the State of Washington.   The bill is very complicated and very confusing, setting up some situations which may not be as the law was intended, to help seller’s in distress.  The intent of the law is good, however the execution of the law is severely flawed.   The legislature hopes to protect home owners  going into foreclosure, but who are also 30 days late with a mortgage payment. This law is something we’ll be hearing more and more about in the coming months. 

 I thought two of the members  of The Seattle Post-Intelligencer Real Estate Professionals Blog, of which I am a member, wrote some excellent pieces regarding the new law, Kary Krismer from Keller Williams and Dugald Allen from Windemere.  Both of the articles and the resulting commentary are worth a read.  Jillayne Schlicke over on raincityguide.com had another perspective. 

There would never be this much discussion on blogs if the new law were not so complicated.  It will be interesting to see how it all plays out.  Again, I applaud the intent of the law, but question its execution.