Mortgage Brokers Did NOT Owe You a Fiduciary Duty.

20Jun08

I don’t think many people know that there was no fiduciary duty required from your mortgage broker.  If I am not working in real estate/mortgage field, I might not pay attention to that neither.  Fortunately, WA legislation finally legally required mortgage brokers owe a fiduciary duty to borrowers that is governed by MBPA (Mortgage Broker [...]

Filed under: Seattle, Washington, loan, mortgage, real estate, real estate tips   |  Leave a Comment
Tags: 6381, breach of contract, broker, consumers, disclose, fiduciary duty, loan, MBPA, mortgage, real estate, Seattle, senate bill, WA, Washington

Have an inspection or NOT?

06Jun08

Home inspection is to protect buyer from surprised and possible damaged in plumbing, electrical, etc…
I am so surprised that some people decide to safe a couple of hundreds dollars in inspection for an over $400k, brand new house.   Warranty does not guarantee quality of work.  I am not saying builders are bad nor do lousy [...]

Filed under: Seattle, Washington, condo, inspection, real estate, real estate tips, warranty   |  Leave a Comment
Tags: brand new property, builder, community, condo, condo conversion, guarantee, HOA, home owner, home owner association, inspection, inspector, new house, quality of work, real estate, warranty