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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">I think DOL might have a case as to someone who was in the business of tying up multiple properties and never intending to close but only to market his buyers
interest and get assignment fee and if person couldn’t find a buyer for buyer’s interest had the right to terminate the deal at no cost to the person.<o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Doug Owens<br>
<b>Sent:</b> Thursday, December 19, 2019 11:31 AM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] Excise on Assignments (458-61A-104) & Assignment of Sale Agreements By Only Licensed Brokers (RCW 18.85)?<o:p></o:p></span></p>
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<p class="MsoNormal">Dear Rob, about nine years ago the DOL put out “guidance” on this point and it has been of concern to real estate investors since then. I disagree with the department because a licensed broker is not a party to the underlying transaction
but the buyer who assigns his or her contract to someone else is. This is the guidance that the DOL put out which I understand will not go to the listserv. Yours truly, Doug Owens<o:p></o:p></p>
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<p class="MsoNormal">On Dec 19, 2019, at 10:46 AM, Rowley, Rob <<a href="mailto:rob@rowleylegal.com">rob@rowleylegal.com</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Tahoma",sans-serif">Any experience with DOR or DOL taking the position that real estate investors who assign purchase contracts must be licensed real estate brokers (RCW 18.85)? I have seen a recent inquiry by
DOL of one of my real estate investor clients. Clients who are in the business of getting property under contract and then assigning the buyer's interest for consideration that is typically only paid at the time of closing on the settlement statement. One
of the complaints was by a disgruntled local licensed real estate broker who is a competitor.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Tahoma",sans-serif">Also, it has always been my understanding that under WAC 458-61A-104 as to the assignment consideration the seller does not pay excise but the purchaser does pay.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Tahoma",sans-serif">Wanting to know what is going on statewide (if any) on these issues.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Tahoma",sans-serif">Thank you and Merry Christmas.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:15.0pt;font-family:"Arial",sans-serif;color:#F7751F">Robert R. Rowley<o:p></o:p></span></p>
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<p class="MsoNormal"><i><span style="font-family:"Arial",sans-serif;color:#333333">Attorney & Counselor At Law</span></i><span style="font-family:"Arial",sans-serif;color:#333333"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:#333333">509.252.5074 </span><span style="font-family:"Arial",sans-serif;color:#F7751F">m: </span><span style="font-family:"Arial",sans-serif;color:#333333">509.994.1143<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:#333333">509.928.3084<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:#333333">7 S Howard St, Ste 218, Spokane, WA 99201<o:p></o:p></span></p>
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<p class="MsoNormal"><a href="http://rowleylegal.com/" target="_blank"><span style="font-family:"Arial",sans-serif;color:#1DA1DB;text-decoration:none">rowleylegal.com</span></a><span style="font-family:"Arial",sans-serif;color:#333333"> </span><span style="font-family:"Arial",sans-serif;color:#F7751F">e: </span><a href="mailto:rob@rowleylegal.com" target="_blank"><span style="font-family:"Arial",sans-serif;color:#1DA1DB;text-decoration:none">rob@rowleylegal.com</span></a><span style="font-family:"Arial",sans-serif;color:#333333"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:11.5pt;font-family:"Arial",sans-serif;color:#010004">Practice concentrated on business, real estate and general legal matters in Washington and Idaho. NOTICE: The contents of this message and any attachments may be
protected by the attorney-client privilege, work product doctrine or other applicable protections. If you are not the intended recipient or have received this message in error, please notify the sender and promptly delete the message. Thank you for your assistance.
DISCLAIMER: You should recognize that responses provided by e-mail means are akin to ordinary telephone or face-to-face conversations and do not reflect the level of factual or legal inquiry or analysis which would be applied in the case of a formal legal
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