OLYMPIA – Our homes are typically our most significant investments. When making the decision to buy or sell, it’s important that we have access to the information we might need to be able to make an educated decision. That is especially important when the sale of our home is solicited unexpectedly. Homeowners should be informed of their rights before selling to companies soliciting the sale. At least that is what Rep. Brandy Donaghy, D-Mill Creek, believes.
Fortunately for homeowners, the governor has signed House Bill 1081, a Donaghy bill ensuring transparency in solicited real estate transactions. This important piece of legislation requires companies that are soliciting real estate contracts to inform homeowners of their rights, including their right to an appraisal. Often homeowners do not have a full understanding of what they are getting into when being solicited to sell their home because they don’t have easy access to all of the accurate, relevant information. House Bill 1081 also requires soliciting companies to pay for appraisals if the seller wants one since the company is the initiator of the transaction.
“If a company is asking someone to sell their home, they should inform homeowners of their rights,” said Donaghy. “It is perfectly reasonable to ask organizations to be responsible and transparent when soliciting home sales. ‘Seller beware’ is not a fair way to conduct business. Real estate transactions can be quite complicated, and sellers deserve to have the information that they need to make the choices that work best for them and their families.”
“I think the majority of these companies are treating homeowners fairly. Still, some are not,” continued Donaghy. “That is why we needed to put some basic seller protections in place to ensure no one is taken advantage of.”
House Bill 1081 will go into effect 90 days after the end of the 2025 legislative session, which is scheduled to end on Sunday.