[WSBARP] May a PSA require buyer to pay REET?
Dominique Zervas
dominique at zervaslaw.com
Thu Sep 1 12:57:48 PDT 2016
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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