Tom is selling a vacant lot in rural Whatcom County. His broker tells him he needs to complete Form 17 before marketing the property. Tom argues that Form 17 is only for houses with improvements. Under RCW Chapter 64.06, which of the following transactions is MOST LIKELY exempt from the Form 17 requirement?
Correct Answer
B) Sale of a newly constructed home being sold by a licensed contractor-builder
Under RCW 64.06.013, one of the statutory exemptions from the Form 17 requirement applies to the sale of new construction where the seller is a licensed contractor who has not occupied the property. In this situation, the builder-seller provides other statutory disclosures and warranties, and the Form 17 requirement does not apply. The buyer still receives protection through construction warranties and other means.
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Related Topics & Key Terms
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