The WA State RE Commission Would Like to Hear From You
The commission is collecting information to assess impacts related to Substitute Senate Bill (SSB) 5399 – Concerning future listing right purchase contracts (RCW – 61.38.901), formerly known as 40-year contracts.A 'future listing right purchase contract' means a contract granting an exclusive right to list residential real estate for sale in the future and includes, but is not limited to, any document recorded in the county where the real estate is located relating to the contract including the contract itself, a memorandum concerning the contract, or a deed of trust to secure the terms of the contract.
The survey is anonymous. The information you give will be analyzed to provide recommendations for consumer protections and potential regulations, including potential licensing requirements. The findings will be reported to the state legislature at the end of the year.
There are 2 survey links, please access the survey that most represents you:
SSB 5399 - Providing future listing right purchase contracts
SSB 5399 - Don't provide future listing right purchase contracts but have a client who signed
The surveys will open 05/13/2024 at 9:30a.m. PST and close 05/27/2024 at 9:29a.m. PST.
For questions, comments, or concerns, please email them at DOLBoards@dol.wa.gov
THANK YOU for your participation!