WARNING to sellers - guard your prescriptions and cash when prospective buyers are in your house.

Thank you to the Northwest Multiple Listing Service for looking out for the safety of sellers. We received this warning about keeping safe at open houses in the Seattle area, but it applies to all sellers everywhere.  As the NWMLS encourages its members to educate their customers, here is their April 17, 2009 bulletin in its entirety:

Do buyers have to tell you the source of their down payment?

Following up on our last post about "Debunking industry myths and fairy tales", here is another myth busted by Washington REALTOR News. Myth Number 6 is shown below in its entirety, and is reprinted with permission from Washington REALTORS(r). This article is not legal advice. You should always consult your own real estate attorney, REALTOR or tax specialist.

Myth Number 6: Buyer has no obligation to disclose the source down payment

There is a version of this myth that is true. But, the extension of this myth to all buyers leads many buyers to commit an act of fraudulent inducement.