HAVE A SAFE AND FUN INDEPENDENCE DAY! | |
CBA’s office will be closed on Thursday, July 4th and Friday, July 5th in honor of Independence Day. We’ll reopen at 8:00 a.m. on Monday, July 8th. Enjoy the long weekend! | |
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Located on lush, rolling terrain in the Cascade Mountain foothills, Bear Creek Country Club boasts a magnificent Jack Frei-designed championship layout and the personalized service and exclusive privileges that have earned it recognition among the finest private clubs in the greater Seattle area.
A handful of sponsorships are still available! Don't miss this prime opportunity to showcase your businesses, connect with local commercial real estate brokers and other industry professionals, and enjoy food, drinks, and fun in the sun! As one of Washington state's best (and most fun!) tournaments, we typically host 35+ sponsor companies and 144 golfers. Plus, a post-tournament awards dinner provides ample time for catching up and networking.
Tickets to the tournament are selling faster than a wormburner on a double-cut green, so don’t wait to secure your spot!
Check out this video to learn more!
Click below to register and review available sponsorship opportunities, or contact Adrianne for more information.
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LEGAL BULLETIN REMINDER:
Important Revisions to
Lease Acknowledgments
and CBA's Listing Turn-In Rule
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There are two important changes that CBA members should be aware of that impact your business. The first pertains to a recent change in Washington law relaxing the requirements for leases to be acknowledged. The second is a set of revisions to CBA’s rules concerning mandatory and optional turn-in of listings.
Lease Acknowledgments
Washington law requires any lease with a term longer than one year to be acknowledged by a notary. A revision to that requirement goes into effect on June 6, 2024. Under SSB 5840, which the Washington legislature passed unanimously in the 2024 legislative session, RCW 64.04.010 is modified to provide that leases do not require acknowledgment unless the parties will record the lease or a memorandum of lease. Accordingly, effective June 6, 2024, CBA lease forms will be revised to include a note on the notary pages informing parties that acknowledgment is required only if the lease or a memorandum thereof will be recorded. Any lease with a term greater than one year that is entered before June 6, 2024, must still be notarized.
CBA members with questions about this change in the law should consult their firm’s legal counsel.
Listing Turn-In
CBA Rules 1 and 2 govern mandatory and optional turn-in of certain types of listings. Because CBA’s overall purpose is specific to commercial real estate, CBA made the following changes to clarify the types of listings to be turned in for publication in CBA’s listing database.
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Rule 1, pertaining to Mandatory Turn-In, has been revised to clarify that any listing for commercial real estate, as that term is defined by applicable law, must be turned in to CBA.1 The rule also clarifies that subdivisions, as defined by applicable law, must be turned in to CBA. 2 The rule continues to make clear that business opportunities must be turned in to CBA.
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Rule 2, pertaining to Optional Turn-In, has been revised to exclude listings for residential real estate, defined by Washington state law as "Real property consisting of, or improved by, one to four residential dwelling units." Effective immediately, CBA will not accept listings for residential real estate. Note that this does not apply to subdivisions, which, as noted above, are subject to mandatory turn-in under Rule 1.
Members who have listings for residential real estate should submit those listings to the applicable residential multiple listing service. NOTE: residential listings under 5 units that are currently active in CBA will remain in our system until they sell/expire.
- The definition of “commercial real estate” in Washington is contained in RCW 60.42.005, and the definition of “commercial real estate” in Idaho is contained in I.C. 54-2004.
- The definition of “subdivision” in Washington is contained in RCW 58.17.020, and the definition of “subdivision” in Idaho is contained in I.C. 50-1301.
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DATE: July 18, 2024
TIME: 9 a.m. - Noon
CREDITS: 3 CE Hours
LOCATION: CBA Training Room, Lynnwood
COST: $65 CBA Members | $80 Non-Members
This class will provide a hands-on approach to examining the typical Phase I Environmental Site Assessment report.
Participants will learn:
- How each element of the report is completed,
- What the regulatory requirements are, and
- How final conclusions are reached
Each participant will also receive a typical Phase I ESA report with a list of appendices.
Instructor: John R. Kane, CEO/President of Kane Environmental
John has over 35 years of experience in the environmental services industry. In 1994, he joined Environmental Partners as Principal and Senior Geologist responsible for Phase I due diligence projects for commercial/industrial sites and mergers and acquisitions. In 2000, John founded Kane Environmental to provide business solutions to improve the environmental, social, and economic health in communities across the US.
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DATE: August 21, 2024
TIME: 9 a.m. - Noon
CREDITS: 3 CE Hours
LOCATION: CBA Training Room, Lynnwood
COST: $65 CBA Members | $80 Non-Members
Learn the basics, the elements of the commercial title report, and the details of the escrow process unique to commercial closings, as well as how Title and Escrow can make or break your deals.
In this class you’ll learn:
- What a Preliminary Report is and how to read it
- The components of a Preliminary Report
- What a Title commitment is
- About Title Insurance coverage, exclusions, and exceptions
- Policy types
- Endorsements
- Recordable documents
- And additional considerations
Our instructor will provide an overview of the acquisition and disposition and the closing process.
Instructor: Steve Cory | Sales Executive | Fidelity National Title
With over 30 years of experience in the title insurance industry as an examiner, title officer, manager, and sales executive, Steve has gained the knowledge and experience to address his clients' real estate needs. He has also earned the reputation of advocating for his clients by learning their individual needs and working with them to have the smoothest transaction possible.
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PARTNER CLASSES
AND EVENTS
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Tour The Jack in Pioneer Square
July 16, 2024
4 - 6:00 p.m.
The Jack
CREW Members $35 |
Nonmembers $45
Come tour The Jack! In the heart of Pioneer Square, with breathtaking views and workplaces employees crave, this elegantly designed building definitely has a wow factor.
The Jack is the first of its kind in the United States to be in pursuit of SEAM certification. The Social Equity Assessment Method helps companies leverage commercial real estate to create positive social impact in their communities and the world. It is also pursuing LEED Gold, WELL Building Gold, WiredScore Platinum and is Salmon-Safe Certified.
Learn More >>
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Summer Golf Event in Tacoma
July 25, 2024
5 - 6:30 p.m.
Meadow Park Golf Course
CREW Members $20 |
Nonmembers $30
Join CREW Seattle for their Summer Golf Event! This event marks the South Sound Committee's inaugural golf event, bringing attention to CREW's presence in the area. Enjoy an afternoon of golf fun, practice shots, learning the basics of the game, and, of course, networking.
Includes 90 mins of group instruction and a bucket of balls. Session will conclude with 30 minutes of networking.
Learn More >>
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