Question 1

Do I need a real estate license to wholesale in Olympia?

Accepted Answer

Not under Washington's own-account exemption. RCW 18.85.151(1) exempts from real estate licensing a person who purchases or disposes of property for that individual's own account. No wholesaling-specific Washington statute or disclosure mandate turned up in our research, and no Olympia or Thurston County wholesaling rule did either, which is not the same as confirming none exists. Check with the jurisdiction before you rely on that. Talk to your attorney about your own contract and assignment language, since the exemption covers your own account, not marketing someone else's property on their behalf for a fee.

Question 2

Does the real estate excise tax rate change depending on which Thurston County city I close in?

Accepted Answer

Yes, and it is the one place in the county where the local add-on is not uniform. Olympia, Lacey, Tumwater, Yelm, Tenino and unincorporated Thurston County all charge the same 0.50% local real estate excise tax, but Rainier charges 0.25%, half the rate of everywhere else in the county, effective March 1, 2026. On a $536,583 sale, the state's graduated REET plus Olympia's 0.50% local add-on totals about $8,606, roughly 1.60% of price; the same sale in Rainier totals about $7,265, roughly 1.35%, a $1,341 difference. A double close pays that structure twice, once per leg, so model REET on both legs and both cities before you size the spread.

Question 3

Do I close through an attorney or through escrow on an Olympia double close?

Accepted Answer

Through escrow, not an attorney. Washington closes real estate through licensed escrow agents rather than attorney closings; every escrow transaction must be supervised by a licensed escrow officer, and Limited Practice Officers prepare the closing documents at escrow and title companies. Line up an escrow office that can run both legs of your Olympia double close on the same day, and confirm ahead of time that they can fund and record both closings before end of day.

Question 4

Who pays the real estate excise tax on an Olympia double close, buyer or seller?

Accepted Answer

That is not settled in our research, so we will not tell you it is the seller. Washington's real estate excise tax is commonly assumed to fall on the seller, but who customarily pays it in a given transaction, and how it is allocated on your specific closing statement, was not confirmed in a primary source for this market. Your escrow officer and your closing statement, not a general rule, decide the allocation on your deal. Ask your escrow office before you build REET into your spread on either side.

Question 5

Is the funding itself subject to Washington licensing or usury limits?

Accepted Answer

Both statutes turn on the purpose of the loan. RCW 31.04.025(4)(e) exempts a person making a loan primarily for business, commercial, or agricultural purposes from Consumer Loan Act licensing unless the loan is secured by the borrower's primary dwelling, and the Mortgage Broker Practices Act is defined by reference to residential mortgage loans made for personal, family, or household use. Separately, RCW 19.52.080 bars entity borrowers from pleading usury at all, and shields any transaction primarily for commercial, investment, or business purposes, with an express carve-back for consumer transactions. Purpose is a facts-and-circumstances question on your specific deal, so talk to your attorney about how a given structure is treated.

Question 6

What happens if my B-to-C buyer falls through on an Olympia deal?

Accepted Answer

You can pivot to a rehab loan instead of losing the deal. If your end buyer walks or their financing falls through, our fix and flip loan funds up to 90% of purchase and 100% of rehab so you can renovate and resell instead of carrying an assignment that went sideways. That is a separate underwriting decision from transactional funding, and either way your closing still runs through a licensed Washington escrow office. Talk to us before your closing date, not after, so we can have terms ready if you need the fallback.

Question 7

Do I need cash of my own to close the A-to-B leg in Olympia?

Accepted Answer

Not for the purchase itself. Transactional funding covers up to 100% of the purchase price on the A-to-B leg, priced as a flat fee rather than a rate, for a term measured in days, not weeks. What you do still need cash for in Olympia is the closing side: Washington charges real estate excise tax on each transfer, so a double close pays it on both legs, roughly 1.60% of price in Olympia and about 1.35% in Rainier. Budget escrow and REET on both legs before you size the spread. Subject to underwriting.

Question 8

Will a credit check or an appraisal slow down an Olympia same-day double close?

Accepted Answer

Neither one applies here. Transactional funding involves no credit check and no appraisal, because we are funding a simultaneous close where your end buyer is already in place. That removes the two items that normally set the calendar. The real scheduling constraint in Olympia is your escrow office: Washington closes through licensed escrow agents rather than attorney closings, so confirm ahead of time that they can fund and record both legs before end of day. Subject to underwriting.

Transactional Funding in Olympia

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