HB 1603 - DIGEST

(SUBSTITUTED FOR - SEE 1ST SUB)

     Requires that, in a transaction for the sale of new residential real property, the seller shall deliver to the buyer a lien information statement, unless the buyer expressly waives the right to receive the statement, or unless the transfer is exempt under RCW 64.06.010.

     Provides that, upon delivery, the seller shall verbally explain the lien information statement to the buyer, and both the buyer and seller shall date and sign the statement.