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

Thu Sep 26 12:16:25 PDT 2019

Are they going to get paid for their escrow and policy fees, disburse excise taxes, etc  or are they putting the closing  on hold?  If so, then using title’s logic why would the Broker not get paid?

If they put the file completely on hold, I suggest you speak to the title officer’s supervisor or someone up the food chain who knows the difference between gross sales price and seller proceeds.

Nestor Gorfinkel, Attorney at Law

Licensed in Washington & Florida

Florida Civil-Law (International) Notary

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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 11:49 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] What are "proceeds" on sale of real property

Probably not this close to closing. 

But I would really like to know what, if any, is the definition of "proceeds" in this context. If proceeds mean price minus costs. And costs include commission to brokers, then Title's position is incorrect.  

Kaitlyn

On Thu, Sep 26, 2019 at 11:36 AM Douglas Scott <doug at rainieradvocates.com <mailto:doug at rainieradvocates.com> > wrote:

Can you get this quickly on the family law calendar and petition the court for approval of the sale and distribution to the ex? 

DOUGLAS W. SCOTT

Rainier Legal Advocates|LLC

Eastside Office

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 <http://www.davisscottlaw.com/> www.davisscottlaw.com

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On Thu, Sep 26, 2019 at 11:29 AM <nestor at pplsweb.com <mailto:nestor at pplsweb.com> > wrote:

Unless there is case law to the contrary (that I have not seen) those amounts come out of the net proceeds to the Seller.

Nestor Gorfinkel, Attorney at Law 

Admitted to practice law in Washington & Florida 

Florida Civil-Law (International) Notary

Puget Property Legal Services

40 Lake Bellevue Drive # 100

Bellevue, WA 98005

Tel. (425) 961-0519

Fax. (888) 522-3601

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From: wsbarp-bounces at lists.wsbarppt.com <mailto:wsbarp-bounces at lists.wsbarppt.com>  <wsbarp-bounces at lists.wsbarppt.com <mailto: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 <mailto: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

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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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