[WSBARP] What are "proceeds" on sale of real property

[Bryce Dille]

Proceeds refers to amount due seller at closing which is gross sales price less encumbrances such as deeds of trust and all costs of sale as set forth in P and S agreement . Since the commission is a cost of sale and no doubt was referred to in the P and S agreement as being a cost of seller it should be deducted in determining “proceeds” as set out in decree.

Bryce H. Dille | Attorney at Law
Dille Law, PLLC
P: 360-350-0270 | F: 844-210-4503
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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Kaitlyn Jackson
Sent: Thursday, September 26, 2019 11:13 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] What are "proceeds" on sale of real property

Brain trust -

Client is real estate broker. Broker has entered into contract with Seller. Sale of property is pending. Title discovers divorce decree judgment with the following language in favor of Seller's ex-spouse:

It is further ordered that any proceeds from the pending sale of Respondent’s home shall first be applied to his past due child support .... judgment of $$$; any remaining proceeds shall be applied to his past due spousal maintenance judgment of $$$. Failure to apply the proceeds as directed by this order shall be a basis for contempt.
I took out the amount for privacy reasons.

It is discovered that if the ex-spouse's judgment is paid out of the proceeds of the sale that not enough money will be left to pay the brokers their commission. Aren't the commissions supposed to take priority as a service rendered?

Would love to hear your thoughts.
--
Thank you,

Kaitlyn R. Jackson | Attorney| DIMENSION LAW GROUP PLLC
130 Andover Park East, Suite 300 | Tukwila, WA 98188
t: 206.973.3500 | f: 206.577.5090| e: kaitlyn at dimensionlaw.com|<mailto:kaitlyn at dimensionlaw.com|> www.dimensionlaw.com<http://www.dimensionlaw.com/>

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