City Lessens Broker Paperwork

SEATTLE-The City of Seattle has taken a step toward saving the sellers and brokers of commercial real estate a little time and anxiety. Mayor Paul Schell has signed an ordinance repealing the code that requires the grantor of “any fee title or beneficial interest” in real property to obtain a form prepared by the Director of the Department of Design, Construction and Land Use.

The new regulation is for all commercial deals signed after April 21. While some title officers have been providing the form to brokers the past few years, the actual practice is no longer necessary. The step can save brokers precious time – sometimes hours – when closing a deal.