Signing vs. Closing

When people talk about a real estate purchase or refinance, they sometimes use the terms “signing” and “closing” interchangeably in reference to the event when the buyers sign documents with Escrow. However, there are several events that take place between the buyer’s signing appointment and the actual closing of the real estate transaction. Let’s take a moment and review that process.

Signing of Documents.

King County Property Tax Increase

The word is out; King County property taxes are going up by double-digit percentages. County Assessor John Wilson says across King County the average tax bill going out this month will be 17% greater than last year’s property tax. This increase is the result of a new school-funding plan that is part of the recently passed budget.

The plan is a response to the state Supreme Court’s landmark McCleary decision, in which the Court ruled that Washington was not adequately funding basic K-12 education. Using increased property taxes to pay for education is part of the budget that was signed by the governor last year.