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You need to follow-up on all the details. That's why I employ a "transaction coordinator" to just keep track of this phase so there are no delays or a lost sale. Basically, you're property is off the market during this time period, so don't allow your agreement to "flip" because the buyer did not accomplish some task as detailed in the purchase agreement.

As a seller in Washington state, you are going to be required by law to pay an "excise tax." It's like a sales tax, and the seller has to pay. It's weird, but that's the way it is. Also, you will be required to pay one-half of the settlement, or what we refer to as "closing costs." These charges will amount to approximately 2.5% of your sales price in the state of Washington, which includes the seller excise tax. Other states will be different. This can vary so you will want to confirm this with your escrow company or your attorney or whoever will be handling the actual closing and transfer of ownership. Also there can be prorations for property taxes, and special assessments, rental income or deposits and other things. Ask for the estimated settlement statement from the lender or the closing agent.

Usually, the seller gets to choose who the title insurance company will be. You see, the buyer pays for a title insurance policy for their new home, and you the seller generally has to pay for a title policy for the buyer's lender, if there is one.

I work with Stewart Title Company, Inc. I'm happy to recommend them, and I believe if you use my name they will give you a 30% discount. We bring them a lot of business and I'm happy to pass along the savings to you that they offer my clients because of the volume of business we refer to them. You can contact David Foster at (425) 351-8900 ( www.stewarttitlewa.com). Tell him JJ Johnston referred you and you're interested in the discount. He can explain it to you, and make the proper arrangements.

We close almost $20 million annually in home sales and whenever possible, we always use a company called Escrow Partners, Inc. to close our transactions. We have found them to provide excellent service, offer the most competitive rates and be responsive to our customers needs. In fact they too offer a discount for our customers, and we're happy to recommend them. In most cases, the buyer has the choice of the escrow company; however, sometimes they will go along with the seller's choice. Escrow Partners, Inc. can offer the buyer a discount, too. Call Debbie Stevens about the details. She can be contacted at (425) 766-4635 or toll free at 1-800-292-8226, or by email at debbie@escrowpartners.com. Web Site: Escrow Partners, Inc.

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