Wash. Rev. Code § 6.23.120

Current through 2024

Section 6.23.120 - Listing of property for sale during redemption period-Acceptance of qualifying offer if property unredeemed and deed issued-Procedure-Disposition of proceeds

(1) Except as provided in subsection (4) of this section, during the period of redemption for any property that a person would be entitled to claim as a homestead, any licensed real estate broker within the county in which the property is located may nonexclusively list the property for sale whether or not there is a listing contract. If the property is not redeemed by the judgment debtor and a sheriff's deed is issued under RCW 6.21.120, then the property owner shall accept the highest current qualifying offer upon tender of full cash payment within two banking days after notice of the pending acceptance is received by the offeror. If timely tender is not made, such offer shall no longer be deemed to be current and the opportunity shall pass to the next highest current qualifying offer, if any. Notice of pending acceptance shall be given for the first highest current qualifying offer within five days after delivery of the sheriff's deed under RCW 6.21.120 and for each subsequent highest current qualifying offer within five days after the offer becoming the highest current qualifying offer. An offer is qualifying if the offer is made during the redemption period through a licensed real estate broker listing the property and is at least equal to the sum of:

(a) One hundred twenty percent of the redemption amount determined under RCW 6.23.020 and

(b) the normal commission of the real estate broker or agent handling the offer.

(2) The proceeds shall be divided at the time of closing with:

(a) One hundred twenty percent of the redemption amount determined under RCW 6.23.020 paid to the property owner,

(b) the real estate broker's or agent's normal commission paid, and

(c) any excess paid to the judgment debtor.

(3) Notice, tender, payment, and closing shall be made through the real estate broker or agent handling the offer.

(4) This section shall not apply to mortgage or deed of trust foreclosures under chapter 61.12 or 61.24 RCW.

RCW 6.23.120

Amended by 2018 c 22,§ 3, eff. 6/7/2018.

1987 c 442 § 712; 1981 c 329 § 23. Formerly RCW 6.24.230.

Explanatory statement- 2018 c 22 : See note following RCW 1.20.051.

Severability-1981 c 329: See note following RCW 6.21.020.