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<font face="Times New Roman, Times, serif"> The buyer asked me to
review the take-or-leave-it (make no modifications) boilerplate
form of PSA that she received from Altisource, the marketing agent
for the lender that holds the foreclosed property.<br>
<br>
Doug Schafer<br>
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<div class="moz-cite-prefix">On 9/1/2016 11:51 AM, Randy Cornwall
wrote:<br>
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<div>I agree it's allowable, but just out of curiosity - why do
you have buyers paying it? Is it a negotiation tactic in a
tight market? Why would you suggest buyer payment of excise
taxes versus say a buyer credit to the seller? <br>
<br>
Thanks. -Randy
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<div>Sent from my mobile device. Please forgive typos and
incorrect "auto corrects".</div>
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On Sep 1, 2016, at 11:37 AM, Josh Grant <<a
moz-do-not-send="true" href="mailto:jgrant@accima.com">jgrant@accima.com</a>>
wrote:<br>
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<div><font size="4">We have buyer’s paying all or
sometimes 1/2 of REET frequently. THe state law
permits this.</font></div>
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<div style="font-color: black"><b>From:</b> <a
moz-do-not-send="true"
title="schafer@pobox.com"
href="mailto:schafer@pobox.com">Doug Schafer</a>
</div>
<div><b>Sent:</b> Thursday, September 01, 2016
11:14 AM</div>
<div><b>To:</b> <a moz-do-not-send="true"
title="solo-and-small-practice-section@list.wsba.org"
href="mailto:solo-and-small-practice-section@list.wsba.org">Solo &
Small Firm WSBA Listserv</a> ; <a
moz-do-not-send="true"
title="wsbarp@lists.wsbarppt.com"
href="mailto:wsbarp@lists.wsbarppt.com">WSBA
RPPT Real Prop. Discussion Forum</a> </div>
<div><b>Subject:</b> [WSBARP] May a PSA require
buyer to pay REET?</div>
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</div>
<div> </div>
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FONT-FAMILY: "Calibri"; FONT-WEIGHT: normal;
COLOR: #000000; FONT-STYLE: normal; DISPLAY: inline"><font
face="Times New Roman, Times, serif">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."<br>
<br>
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.<br>
<br>
Am I missing something?<br>
<br>
Doug Schafer, in Tacoma. <br>
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