Escrow and Loan Assumptions

Escrow and Loan Assumptions

Understanding the mechanics of loan assumptions and the role of escrow is crucial for home purchasers when navigating a transaction involving a conventional or VA loan assumption. A loan assumption occurs when a buyer takes over the seller’s existing mortgage...
Facilitating the Payoff of Utilities at Closing

Facilitating the Payoff of Utilities at Closing

A smooth property closing process is the goal for all parties involved and understanding how final utility payments are handled is important. In the State of Washington, unpaid utility charges can become liens on the property, rather than attaching to the owner of the...

Important: New Certification Form for Co-signor Exemption

The exemption allowed under WAC 458-61A-215(2)(d) for addition of a co-signor to title and (2)(e) for removal of a co-signor from title require a narrative submitted with the Real Estate Excise Tax Affidavit. Due to the high level of misuse resulting in unintended tax...

To Quit Claim or Not to Quit Claim…

To Quit Claim or Not to Quit Claim: Weighing the Pros and Cons When it comes to real estate transactions in Washington State, one important decision to make is whether to use a Quit Claim Deed (QCD) or explore other options. A Quit Claim Deed (QCD) is a legal document...