Section 61.24.135. Consumer protection act—Unfair or deceptive acts or practices.

(1) It is an unfair or deceptive act or practice under the consumer protection act, chapter 19.86 RCW, for any person, acting alone or in concert with others, to offer, or offer to accept or accept from another, any consideration of any type not to bid, or to reduce a bid, at a sale of property conducted pursuant to a power of sale in a deed of trust. The trustee may decline to complete a sale or deliver the trustee's deed and refund the purchase price, if it appears that the bidding has been collusive or defective, or that the sale might have been void. However, it is not an unfair or deceptive act or practice for any person, including a trustee, to state that a property subject to a recorded notice of trustee's sale or subject to a sale conducted pursuant to this chapter is being sold in an "as-is" condition, or for the beneficiary to arrange to provide financing for a particular bidder or to reach any good faith agreement with the borrower, grantor, any guarantor, or any junior lienholder.

(2) It is an unfair or deceptive act in trade or commerce and an unfair method of competition in violation of the consumer protection act, chapter 19.86 RCW, for any person or entity to: (a) Violate the duty of good faith under RCW 61.24.163; (b) fail to comply with the requirements of *RCW 61.24.174, as it existed prior to July 1, 2016, or RCW 61.24.173; or (c) fail to initiate contact with a borrower and exercise due diligence as required under RCW 61.24.031.

[ 2016 c 196 § 3; 2011 c 58 § 14; 2008 c 153 § 6; 1998 c 295 § 15.]

NOTES:

*Reviser's note: RCW 61.24.174 was repealed by 2016 c 196 § 4.

Effective date—2016 c 196: See note following RCW 61.24.172.

Findings—Intent—Short title—2011 c 58: See notes following RCW 61.24.005.

2016 c 196 § 3; 2011 c 58 § 14; 2008 c 153 § 6; 1998 c 295 § 15.