Marco, in Washington state very few buyers (probably well less than 5%) use an attorney to review a purchase and sale transaction. Attorneys usually only get involved if something goes wrong. We use escrow companies to close transactions.
I once saw a builder contract that was so poorly drafted by the builder that it probably wasn't even enforceable. It didn't make any attempt at all to identify the lot the house was to be built on, nor did it specify very well what the house was to look like (not even a model name). But if it had been executed by the buyer (this buyer didn't sign it), the contract allowed the builder to suck out part of the earnest money from escrow as the project went on. Had this situation happened to that buyer, it would have been a real mess.... more
Here's the thing - you don't really see the turnaround coming. Oh, people will predict it, with just enough weaseling to escape culpability, but the fact is, you don't know. Smart people, people who were doing lots of research and calculations - some thought we'd avoid the crash altogether, some thought it'd go down 50% or more when all was said and done (it's currently at about 30%).... more
The property was listed on 10/21/08 for $349,000 and was reduced to $$325,000 and then $298,000 within 3 weeks time. Two weeks later it sold for $275,000. Closed on New Year's Eve 2008 per tax records...recorded as 1/6/09 in the mls. I see no evidence that it is back on market. Earlier in 2008, the owners had it on market for $449,000 and for $429,000, but it did not sell.... more