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Weekly Membership Newsletter
December 04, 2018 • Stay Connected!
         


QUESTION:  We represent a buyer who agreed to closing plus two days for the seller to move out. We are scheduled to close this Friday. The listing broker says the sellers are computing the time of two days as business days and don't intend to be out till Tuesday at 9pm. Buyers were anticipating getting possession on Sunday at 9pm. I know that possession can land on a weekend but as far as computing time would the 2 additional days land on Sunday or on Tuesday?



ANSWER:  The F21 Computation of Time provision (Paragraph L) specifically treats possession dates differently from the counting of all other time periods. Possession days are always calendar days and the time period can end on a weekend or holiday. Based on the facts presented, buyer is entitled to possession on Sunday at 9 pm. The boiler plate language of the form addresses this issue specifically.
               
 

 

The Legal Hotline Lawyer does not represent Washington REALTORS or its members. To browse through our database of past Q & A's, visit www.warealtor.org. Attorney Annie Fitzsimmons writes the Legal Hotline Question and Answer of the Week. Please submit questions to legalhotline@warealtor.org or leave a message at 800.562.6027. Please include your NRDS number.


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Primary Mortgage Rates Survey
(updated every Thursday)  Source:  Freddie Mac
 
  November 29, 2018       30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  4.81%  4.25%  4.12%
 Fees & PointsHTML  0.5
 0.4
 0.3
 Margin  N/A  N/A  2.77



  November 21, 2018       30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  4.81%  4.24%  4.09%
 Fees & PointsHTML  0.4
 0.5
 0.3
 Margin  N/A  N/A  2.76



  November 15, 2018       30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  4.94%  4.36%  4.14%
 Fees & Points  0.5
 0.4
 0.3
 Margin  N/A  N/A  2.77



  November 8, 2018       30-yr FRM  15-Yr FRM  5/1-Yr ARM
 Average Rates  4.94%  4.33%  4.14%
 Fees & Points  0.5
 0.5
 0.3
 Margin  N/A  N/A  2.77



 
 UPCOMING CLASSES
 
Date Class Location CE  
05-DEC NAR Code of EthicsWebinar3.0More info...
06-DECNAR Code of EthicsVancouver3.0More info...
11-DEC NAR Code of EthicsOlympia3.0More info...
14-DECTrends Trade ShowSeattle3.0More info...
20-DECNAR Code of EthicsWebinar3.0More info...
     

More Classes →


  
COE WEBINARS 
Washington REALTORS® will host COE Webinars starting in August to assist members with completing the mandatory training. Don't wait until the last minute, though! These webinars are capped and they fill up fast...
 
THURSDAY, NOVEMBER 29TH  REGISTER
WEDNESDAY, DECEMBER 5TH REGISTER
THURSDAY, DECEMBER 20TH  REGISTER