We’ll also be discussing our unique model in the real estate industry and how you can save thousands of dollars by using our services.  Attendance is free, and reservations are appreciated but not required.  We hope to see you!

This is the first of five seminar/workshops we have scheduled. Click here to see dates and topics for all our Home Buyer Workshops.

WaLaw Realty is offering free workshops for home buyers again in 2012. Join us at our offices in Lower Queen Anne on Wed. Feb 15 at 6 pm.

Once again, WaLaw Realty is offering a free home buying workshop/seminar to anyone interested in learning more about the home buying process or WaLaw Realty.  In fact, we’re offering five of ‘em!  These classes will run from 6pm to about 8pm or so here at our new office in Lower Queen Anne.  We’ll provide pizza and beverages — both “adult” and “unleaded” — for those in attendance.

Whether you’re a first time homebuyer or an old pro, you’ll undoubtedly learn something new at these free home buying classes.  Plus, you’ll learn about the WaLaw model that combines the services of a real estate agent with the skills of an attorney, all for a fee substantially less than what you would pay a typical agent.  Are you a seller?  Don’t worry, you’ll still pick up some valuable information, and of course we’ll answer your questions.

Free Home Buyer Seminars for 2012:

Each class will have a unique theme, although every class will be driven primarily by the interests and questions of the attendees.  We like talking — we hate lecturing!  So even if you think you know everything there is to know about a particular theme, we’re confident you’ll still be glad you came.  Our schedule:

February 15: The State of the Market  We’ll make sure in this one to spend a significant amount of time discussing our opinion about the current and future state of the housing market.  Is it a good time to buy?  A good time to sell?  Come and find out! REGISTER AND GET DIRECTIONS TO OUR FEBRUARY 15TH HOME BUYER CLASS »

March 21: What Every First Time Home Buyer Should Know  ‘Nuf said.

April 18: Is the Seller Responsible?  This home buying workshop will also benefit sellers who want to learn more about their potential exposure to a buyer after closing.

May 16: Traps for the Unwary Buyer  While not exactly “traps” there are certain legal issues that could be a very unpleasant surprise to a naive buyer.  Learn about them so you can avoid them.

June 20: Financing: Where to Get It, What Happens if It Fails  Most everyone needs to borrow money to buy a home.  Come to this home buying class to learn about some of the ins and outs of the financing process and how the contract can protect you if your financing fails.

Register today for our first Home Buying Class

Registrations for the first class are now available. Click here for a MAP & DIRECTIONS and to RSVP.  Registration is appreciated but not required.  We’ll be setting up the other classes as time rolls on, and we’ll make sure to blog about each one when they’re open for registration.  We look forward to seeing you!

About the Presenters:
Craig Blackmon and Marc Holmes are Seattle attorneys whose legal practice, Blackmon Holmes PLLC, is focused on residential real estate. Craig and Marc own and operate WaLaw Realty LLC, a real estate brokerage that provides the services of a real estate agent (such as MLS listings for sellers and access to listed properties for buyers) plus the professional legal representation of an attorney – for a flat rate.

Since we opened our doors in 2009 our buyers have received an average rebate of $13,514.  That’s the average amount of cash they received at closing, and that’s after our fees are paid in full.  We’ve had two clients receive over $50,000 and, in an off market deal, one client got over $60,000 off his sales price in lieu of the commission.  That’s some serious jack.

What’s even more satisfying to us is the incredible feedback we get from our clients when they’re deals close.  The accolades they express about our service is priceless and the referrals they send our way is the cherry on top.

Thank you to all of our wonderful clients who have made this possible.

The 3% Buyer’s Agent Commission Rebate is a top feature of what WaLaw Realty offers its clients. You won’t get this kind of rebate with a traditional real estate agent.

I just authored a post on Rain City Guide regarding a buyer’s potential liability under a federal law, the Foreign Investment in Real Property Tax Act (FIRPTA).  If you don’t have time to check it out, here’s the quick-n-dirty:

FIRPTA requires a buyer to determine whether the seller of real property is a “foreign person” as defined by the act (essentially any non-resident alien).  If the seller is a foreign person, then the buyer is responsible for withholding 10% of the sale price and forwarding it to the IRS.  This insures that the seller pays the tax due on the gain from the sale.

Here’s where it gets really interesting: if the seller is in fact a “foreign person,” yet the buyer fails to so determine and fails to withhold and forward the 10% to the IRS, then the buyer is liable for the 10%.  Ouch!  That’s quite a bite!  The current NWMLS form contracts specifically inform the Closing Agent to make this determination and to withhold these funds on the buyer’s behalf if appropriate.  However, most escrow instructions (which supplement the contract) relieve escrow of this responsibility.  As a result, most Closing Agents don’t determine whether seller is a foreign person and won’t withhold the funds.  So if you’re the buyer, and if the seller is indeed a foreign person, you run a risk of serious liability to the IRS absent this determination and withholding.

At WaLaw, we’re lawyers.  It is part of our job to insure you comply with the law.  Unlike your average real estate agents (I suspect “almost all” is more appropriate) we appreciate this law and the obligations it imposes, plus the penalty if you don’t comply.  When you hire us, you know that you won’t fall into this trap.  Oh, and you’ll save alot of money, too!