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Washington governor issues real estate and mortgage guidance
On March 27, Governor Jay Inslee issued guidance on conducting real estate and mortgage transactions. The guidance declares that in-person meetings with customers, except when necessary for a customer to view a property or sign necessary documents, are prohibited, as are open-houses. Property viewings, inspections, appraisals, and final walk-throughs shall be arranged by appointment and limited to no more than two people on site at any one time. Except for the limited exceptions authorized above, all new real estate listings shall be facilitated remotely.
Massachusetts temporarily waives requirements for certain residential property inspections prior to sale
On March 20, the Massachusetts governor ordered that the inspections for smoke alarms and carbon monoxide detectors required by state law in connection with residential property sales may be deferred, provided that (1) the buyer agrees to take responsibility for equipping the property with the requisite alarms and detectors; and (2) the inspection is conducted within 90 days after the state of emergency for the Covid-19 outbreak is lifted.
Indiana governor calls for moratorium on residential foreclosures and evictions
On March 19, Indiana Governor Eric Holcomb issued an executive order calling for a moratorium on evictions and foreclosures of residential real estate. While the action does not absolve individuals of their obligations to pay their rent or mortgage, it does halt foreclosure and eviction proceedings until the state of emergency is lifted. The order also suspends any other statutes or rules connected to foreclosure and eviction proceedings.
South Dakota amends real estate licensing provisions
On March 2, the South Dakota governor signed SB 28, which amends certain statutory provisions related to real estate licensing in the state. Among other things, SB 28 outlines reasons why an application for a license may be denied, including if an applicant “has been disciplined by a regulatory agency in relation to activities as a real estate salesperson or broker, broker associate, firm, appraiser, mortgage broker, or any other regulated licensee, including insurance, securities, law and commodities trading.” SB 28 also stipulates that the state’s real estate commission may issue restricted broker’s licenses, as well as administer and enforce outlined provisions. Licensure exemptions are also set forth. The amendments take effect July 1.