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Old 05-02-2010, 09:47 AM
 
56 posts, read 294,558 times
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I know that WA has a sales tax on stuff except raw food.

Do I pay sales tax when I buy a house in WA? What about when I sell it?
Thanks
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Old 05-02-2010, 11:12 AM
 
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No sales tax on buying or selling a house in WA. When you sell, there is a real estate excise tax, which is 1.78%.
Of course, there's plenty of other costs involved. The buyer pays loan costs, which includes a lot of almost mysterious charges like 50 dollar charges for copying a few sheets of paper, as well as escrow charges, title charges, appraisal, inspection, county recording fees, etc.
The seller pays ecrow, title, loan reconveyance, excise tax, and both their own and the buyer's real estate commission. But no sales tax.
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Old 05-10-2010, 10:18 PM
 
56 posts, read 294,558 times
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If I were to buy, I'll pay cash. So loan and anything related to it will not apply to me.

So when I buy, I'll pay for: escrow charges, title charges, appraisal, inspection, county recording fees.
When I sell, I'll pay escrow, title, excise tax (1.78%), and real estate commission.

Can you add percentage (approximately) to the charges? I'm tryign to figure how much it will cost me including all hidden fees when I decide to buy 300K house.

Thanks.
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Old 05-11-2010, 12:41 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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rough idea (from my spreadsheet)
Escrow $350 flat fee
Title ins .0032* sales price
sales tax on above = sum above *.082

Excise for my county (.0153) Sometimes I split that with buyer and seller, usually just the seller, but can be whatever you write into P&S contract.

recording (depends on # of docs, I use $45)
Courier $20 - $80
reconveyance $170
well test $450
Septic $250
Pumping $750
appraisal $400 (residential)
Inspection $300 (home)
engineering inspection $1200 (if required)
Environment $1200 (level 1) - Commercial props
Environmental $2500 (level 2)

I try to get seller to pay for survey (~$2000) if there isn't one (rural / small)

I try to buy 30% below market, as it takes 10% to break even, + commissions (3-10% ... if you are so unlucky as to have to sell via agent)
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