Recording a Lis Pendens in Washington, What Could Go Wrong?
On occasion we will receive a client call, demanding that we hastily record a lis pendens on real property. The request for a quick recording is usually because the client is owed money from the property owner and, unless a lis pendens is recorded, the property will soon be sold without payment of the debt. The client or potential client, has heard the term “lis pendens” and has a general idea what it means, and they are not far off. Yet, being “not far off” can result in an expensive award against the wrongfully recording party.
Considering Providing Seller Financing – Do Your Due Diligence!
As a seller of a commercial or residential property, there are many things to consider as you go through the sales process and review of offers on the property. In some cases, those offers could contain proposals from buyers that are asking for seller financing – i.e. for the seller to convey title but carry a portion of the purchase price after the sale.
Protecting Homebuyers and Sellers from Earnest Money Disputes
The last thing a homebuyer wants is to emotionally commit to purchasing a home and then lose it. Similarly, no seller wants to select a buyer, only to see the home sale fall apart. Everybody made plans. Suddenly, both parties have to start over. When the sale falls through, both buyer and seller can feel an emotional attachment to the initial earnest money deposit. That’s when earnest money disputes arise.
Sales fall through for unexpected reasons. Sometimes it’s an unforseen life event, cold feet or a sudden change in finances. Earnest money disputes seek to determine whether the buyer or the seller deserves to retain the original monetary deposit. If you’re a potential buyer or seller, it’s a good idea to understand a few concepts about earnest money to help reduce the possibility of a bitter trip to the courtroom.