Requirements for the licensing of home inspectors will begin in July 1, 2009. Governor Gregoire signed Senate Bill 6606 into law requiring that all home inspectors be licensed in Washington. The bill also:
The home inspector program will be a part of the Real Estate Unit within the Department of Licensing Business and Professions Division.
House Bill 2459 was presented and signed by Governor Gregoire on March 18. The bill:
House Bill 2778 (with companion bill SB 6498) was approved overwhelmingly by the House and Senate and was signed by Governor Gregoire, March 14. This bill modifies RCW 18.85 and:
The bill will take affect in June, 2010. Delay in implementation is due to many rule changes.
Senate Bill 6847 creates new standards applying to real estate licensees for the review of title insurance rates and prohibits illegal incentives and gratuities in the title insurance business. The bill was signed into law March 21 by Governor Gregoire.
We would like to welcome our newest real estate commissioner, Dan R. Murphy. Governor Christine Gregoire has selected Seattle real estate licensee Mr. Murphy to serve on the Washington Real Estate Commission as of August 27, 2007. His term will expire on August 14, 2013.
Dan Murphy has been with the real estate industry since 1989. In 1996 he began working for Windermere Real Estate Fauntleroy, Inc. in Seattle in real estate sales and is currently an associate broker. His management background and extensive volunteer leadership in the local, state, and national REALTOR organizations has made him well versed in real estate issues, licensing laws, and government regulations relating to real estate matters.
Routine audits of broker transaction files still indicate that a large number of firms are not complying with the delivery and/or deposit requirements regarding earnest money.
All earnest money funds must be deposited into the brokers trust bank account not later than the next banking day unless the purchase and sale agreement states the check is to be held for a specific period of time or the occurrence of a specific event. The delivery of the funds to escrow is the broker's responsibility.
We continue to receive complaints from sellers when the transaction fails that the funds were not deposited or never delivered to the escrow company. Not only is the untimely delivery of earnest money a licensing problem, but also not providing this information to the seller that the earnest money was never collected or delivered can be considered failure to disclose.