Page 51 - Real Estate Laws and Customs - State by State Guide by Old Republic Title

State Locations

A STATE - BY - STATE GUIDE
REAL ESTATE LAWS AND CUSTOMS WASHINGTON

Title Insurance Rates WASHINGTON
Filed

Form of Conveyance WASHINGTON
Warranty Deed; Quitclaim Deed; Personal Representative’s Deed

State Encumbrance Forms WASHINGTON
Deed of Trust; Mortgage

Customary Closing Entity WASHINGTON
Attorney; Licensed Limited Practice Officer (LPO)

Commitment Issued? Duration? WASHINGTON
Yes; 6 Months

When Is Invoice Issued? WASHINGTON
At Closing

Deed Transfer Tax? WASHINGTON
Yes; Real Estate Excise Tax

Mortgage Tax? WASHINGTON
No

Leasehold Tax? WASHINGTON
No; Improvements may be Taxed

Remote Online Notarization (RON) Status WASHINGTON
In Effect
CUSTOMARY SPLITS

Owner’s Policy Premium WASHINGTON
Seller Pays

Loan Policy Premium WASHINGTON
Buyer Pays Additional Coverage; Seller Pays Basic Coverage

Title Search and Exam Fees WASHINGTON
Included in Premium

Survey Charges WASHINGTON
Buyer Pays; Sometimes Negotiated

Deed Transfer Tax WASHINGTON
Seller’s Obligation but may be Paid by Buyer

Mortgage Tax WASHINGTON
Not Applicable

Closing Fees WASHINGTON
Divided Equally; Can be Varied by Agreement

Recording Fees WASHINGTON
Buyer Pays

UCC coverage is available; for assistance with your transaction contact UCC@oldrepublictitle.com 51

oldrepublictitle.com/ncs Updated 07/2023