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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">I am familiar with FlyHomes and have been very impressed with how far they’ve come since I first met the founders when they were just getting started.
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">You can probably find a home they’ve sold in King County on their website and then search the county recorder’s website for the excise affidavits filed in that transaction.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Marc Holmes, JD<br>
Holmes Law Group PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">2303 W. Commodore Way, Suite 306<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Seattle, WA 98199<br>
</span><a href="mailto:marc@holmeslawgroup.com"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue">marc@holmeslawgroup.com</span></a><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><br>
(206) 357-4224 (ofc)<br>
(206) 849-0853 (cell)<o:p></o:p></span></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Samuel M. Meyler<br>
<b>Sent:</b> Tuesday, March 9, 2021 6:26 PM<br>
<b>To:</b> 'WSBA Real Property Listserv' <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBARP] Nominees; WAC 458-61A-214; Flyhomes<o:p></o:p></p>
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<p class="MsoNormal">Listmates,<o:p></o:p></p>
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<p class="MsoNormal">WAC 458-61A-214 provides an excise tax exemption for the subsequent transfer of property by a “nominee” to a third-party (the intended buyer). My understanding is that FlyHomes uses this exemption to purchase properties for cash on behalf
of its clients and subsequently sell the property to the client, without having to pay excise tax on the subsequent transfer.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">For those who are unfamiliar, FlyHomes is a real estate firm with a lending arm that allows its buyer-clients to present an “all cash offer” by purchasing the home for the client for all cash and then selling it to the client, allowing
the client to essentially present an extremely competitive, all-cash offer. This is not a promo for FlyHome’s services… I just find it to be an interesting model and I am researching it.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Is anyone familiar with this type of transaction and how to document it? I know that the WAC provides examples and “explains” what documentation is necessary, but I am wondering if someone may have actually prepared materials documenting
a transaction involving a nominee that have been accepted when recording and if you would be able to share those materials for review. TIA<o:p></o:p></p>
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<p class="MsoNormal">Sam <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Samuel M. Meyler</span></b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Meyler Legal, PLLC </span></b><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">1700 Westlake Ave. N., Ste. 200<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Seattle, Washington 98109</span><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Tel:</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"> 206.876.7770<o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Fax:</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"> 206.876.7771<o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Email:</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"> </span><a href="mailto:samuel@meylerlegal.com"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">samuel@meylerlegal.com</span></a><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"> </span><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">NOTICE:</span></b><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:blue"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:blue">This electronic message contains information which may be Confidential or Privileged and constitutes an electronic communication within the meaning of the Electronic
Communications Privacy Act 18 USC 2510. The information is intended to be for the use of the individual or entity named above. If you are not the intended recipient, please be aware that any disclosure, copying, distribution or use of the contents of this
information is prohibited. If you received this transmission in error, please notify the sender and delete the copy you received together with any attachments. Thank you.</span><o:p></o:p></p>
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