[WSBARP] May a PSA require buyer to pay REET?

[Dominique Zervas]

You are correct, Doug.

 

Sincerely,

 

Dominique Zervas

 

ZERVAS LAW, PS

1909 Broadway

Bellingham, WA 98225

360.733.2010

 <http://zervaslaw.com/> http://zervaslaw.com  

 

Exceptional Service – Meaningful Solutions 

Real Estate • Land Use • Business Formation • Estate Planning & Probate

 

 

 

From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Doug Schafer
Sent: Thursday, September 01, 2016 11:14 AM
To: Solo & Small Firm WSBA Listserv; WSBA RPPT Real Prop. Discussion Forum
Subject: [WSBARP] May a PSA require buyer to pay REET?

 

I'm reviewing a PSA for a client offering to purchase from a lender a foreclosed home.  The seller's PSA form states that the buyer will pay all excise taxes on the transfer "unless explicitly imposed upon the Seller by applicable state law and such law does not permit assignment or payment by buyer."

RCW 82.45.080 explicitly imposes the real estate excise tax on the seller, but I'm not finding any provision the prohibits "assignment or payment by buyer" so it appears to me that this PSA provision will require the buyer to pay the REET.

Am I missing something?

Doug Schafer, in Tacoma. 

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