total crap: As if Short Sales in Washington State Weren't Complicated Enough -UPDATED! - 01/08/09 08:53 AM


UPDATE:  Thanks to Timothy for this link. REET no longer applies to short sales. THANK GOODNESS!
Washington Realtors Association sent out a notice to it's members this morning, saying that "The Department of Revenue (DOR) recently sent a letter to the Escrow Association explaining its position that in short sales, the Real Estate Excise Tax (REET) applies not only to the selling price of a home, but also any debt forgiven by the seller's lender." 
Of course, this is total crap.  Why should you pay taxes on a price the market wouldn't bear out?  NWMLS broke it down like … (2 comments)

 

Marguerite Giguere

Specializing in Tacoma, WA

Tacoma, WA

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Windermere Professional Partners

Address: Tacoma, WA, 98405

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