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<p class="MsoNormal"><span style="font-family:"Verdana",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Verdana",sans-serif">I wondered about that particular requirement too, but apparently DOR accepts that the funds are the funds of the borrower. Funds loaned to a borrower are borrower’s funds. Normally the funds
are disbursed to borrower, who uses the funds to pay the seller. In this transaction, the funds are disbursed directly to the seller, and FlyHomes acts as agent to acquire the land, then convey to the borrower. It seems in the spirit of the exemption, but
there are many instances DOR is more than happy to disregard an exemption anyway. Isn’t this FlyHomes example quite similar to the acquisition by purchasers at foreclosure sales that are financed?<o:p></o:p></span></p>
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<p class="MsoNormal" style="background:white;vertical-align:baseline"><span style="font-family:"Verdana",sans-serif;color:#002060"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background:white;vertical-align:baseline"><span style="font-family:"Verdana",sans-serif;color:#002060">Dwight A. Bickel<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white;vertical-align:baseline"><span style="font-family:"Verdana",sans-serif;color:#002060">Real Property Title Advisor<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white;vertical-align:baseline"><span style="font-family:"Verdana",sans-serif;color:#002060">Washington Title Professional<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white;vertical-align:baseline"><span style="font-family:"Verdana",sans-serif;color:#002060;border:none windowtext 1.0pt;padding:0in"><a href="mailto:Dwight@DwightBickel.com"><span style="color:#002060">Dwight@DwightBickel.com</span></a></span><span style="font-family:"Verdana",sans-serif;color:#002060"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white;vertical-align:baseline"><span style="font-family:"Verdana",sans-serif;color:#002060">https:/dwightbickel.com<o:p></o:p></span></p>
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