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Brock Lile
  • Castle Rock, WA
23
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58
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What are some ABSOLUTE "don'ts" in Washington??

Brock Lile
  • Castle Rock, WA
Posted Mar 17 2019, 10:10

Hello.

I've been searching around to learn more about Washington State-specific laws in relation to investing. I'm mostly focusing on wholesaling right now but these laws would most likely apply to any investor looking for a deal in this state I would imagine.

What I've found so far is to absolutely stay away from pre-foreclosures and foreclosures due to "equity skimming" laws (RCW 61.34).  Link: https://app.leg.wa.gov/rcw/default.aspx?cite=61.34

The second thing I've found is pertaining mostly to wholesalers in that an assignment is a much better way to close that a double-closing.

One question I have is regarding code violations or non-foreclosure evictions. Are there any RCW's related to investors approaching property owners in these situations? 

Would a property owner with pending code violations or back-taxes also fall under RCW 61.34 or their definition of a "distressed owner"?

Are there any other Washington-specific issues to know before proceeding to find and close deals in this state?

Thank you in advance!

Keywords: wholesaling Washington state legal laws RCW distressed lawyer attorney

Edit: specified non-forclosure evictions

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