Don't get caught with having a bill after closing on your King County real estate purchase.
The King County Sewage Treatment Capacity Charge is a charge in addition to the sewer service billed to those customers who connect to the sanitary sewage system on or after February 1, 1990.
King County sends capacity charge bills to property owners about three months after connection to the system and then every three months for 15 years or until the bill is paid in full.
Many times sellers forget they even have this bill as it does not show up as a lien on title unless it is delinquent. It is also not listed on the NWMLS Form 22K as a utility.
As a real estate professional, you should make sure you inquire about the charge and that the appropriate box is checked on line 15 of the NWMLS Purchase and Sale Agreement. Paragraph 15: Charges and Assessments Due After Closing: ____assumed by Buyer; ____prepaid in full by Seller at Closing.
If the "assumed by buyer" box is checked, the buyer is agreeing to take over this bill. If the "prepaid by seller" box is checked, escrow will show this as a charge to the seller and pay it off at closing.
The bill can be thousands of dollars so it's important to address. Escrow does write to King County for the amount, but will need to know who will be paying the assessment.
This guest blog provided by Sandy Andersen, at Chicago Title Company. For more information on title and escrow issues, she may be reached at 206/660-7938 .
Happy Investing!
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