A new decade is here and with it comes significant change to Washington State’s Real Estate Excise Tax (REET). When you sell your property you pay Excise tax based on a percentage of the value. Washington State Senate Bill 5998 was signed into law changing our local real estate excise tax from a flat rate to a tiered system. This change gives owners a tax cut on the first $500,000 of value and keeps the current rate on the next $1 million. However, it also includes an increase after $1.5 million in value.
Real Estate Information
Mortgage Don’ts
Here are a few mortgage don’ts to make the application process less stressful; especially if it’s your first time. We have also included a graphic you may download as a reminder while you go through the process.
Real Estate Broker = Trusted Advisor
Most home owners and home buyers use a real estate broker when looking to buy or sell a home. The function of a real estate broker is more than just helping you find or sell a home. Your real estate broker is your trusted advisor during every step of the …
Six Ways to Hold Title
There are a number of ways to hold title on a property in Washington state. With so many options, property title can be confusing. In this post we have outlined the six most common ways to hold title. 1. Hold Title as a Single Person: A single person may hold …
Property Deed
A property deed is a written document showing who owns a property. When you purchase a home or land the seller must sign one to transfer ownership rights. In Washington state, deeds are recorded in the county in which the property is located and becomes public record. A deed is …