TLDR: I'm
buying out my house from my ex-boyfriend in Seattle (King County),
Washington and I'm struggling to find what the REET if I'm buying my
ex's stake in the house. Do you pay less if its only for half the house?
Is equity a consideration? I'm fairly confident from reading online we
don't qualify for an exemption, but I'm trying to assess actual closing
costs to trying and reduce them
All details:
Bought
the house 2.5 years ago for $980K (left on mortgage $753K), we have a
clause for an assumable mortgage for me to take over (I can keep same
rate). We have agreed on a buyout price of $100K (initial investment)
but he also wants me to pay all closing costs which was quoted $22K -
That seems really high so seeing if this is accurate?
Wells
Fargo initially quoted $1M value at for the house so they said $5.5K
for the county tax (.05%) and $13.1K (1.28%) but a total of $18.6 in
taxes but that seems really high
