Caveat emptor: Why you need to beware when buying WA real estate

Full disclosure: I’m not a lawyer or a realtor. I'm just a homeowner who geeks over fine print and hates nasty surprises.

In the hot Eastside real estate market, buyers drop contingencies faster than I hit snooze. That’s a recipe for regret.

What is “caveat emptor”?

Latin for “let the buyer beware.” It means you could be on the hook for anything you don’t catch before you buy.

In Washington, sellers must list known defects on Form 17 (RCW 64.06.020), but it is on you to spot anything fishy. Sellers aren’t promising perfection. Skip the inspection and any obvious issues you overlook becomes your problem.

Waiving inspection is like marrying someone after a five minute chat. Only do it if you’re 100% sure. Despite what your realtor might tell you, most sellers take the highest offer so skipping the inspection rarely helps.

Spotting potential red flags

• Too many “I don’t know” on Form 17? Assume trouble and dig deeper.

• Mismatch square footage? If MLS and assessor’s data don’t align, someone’s fudging the numbers. Get the correct figures before you buy.

• Ghost permits? Verify remodels and additions have city approval.

Hidden issues on tear-down lots

Even if you plan to flatten the house, the lot can still hide landmines:

• Leaky oil tanks: Remediation costs can exceed $100k if that fuel seeps into a stream. Found a tank? Here's how to get up to $60k for cleanup, but you must act fast.

• Utility gaps: That rambler might not be connected to the sewer or storm drain system so budget for trenching.

• Environmental surprises: Old fill, debris, or contamination can trigger costly cleanups.

Planning on buying a lot to build your dream home? Don't pull the trigger until you review these key considerations.

Two key WA cases

Alejandre v. Bull (2007): Skipped inspections? You’re on the hook for hidden defects.

Douglas v. Visser (2013): Buyers must investigate any signs of damage found during inspections.

Checklist before you sign

1. Do your homework. Never skip inspections unless you are 100% sure. Avoid buyer's remorse and costly surprises.

2. Order specialty reports for anything suspicious. Roof, septic, mold, radon, leaks, or structural. Each one can hide big repair bills.

3. Verify permits. Check that every past project has city approval.

4. Utilities. Confirm essential utilities are connected.

5. Verify square footage: MLS vs. county assessor should match.

6. Survey the area. Flood maps, crime stats, HOA quirks. Have your agent do some homework.

Bottom line: Caveat emptor isn’t just legal jargon. Smart buyers keep their contingencies, do extra digging, and let their realtor handle the grunt work. Sign with eyes wide open, or be ready to own the surprises.