A Washington residential purchase agreement is an essential document for promoting the transfer of residential property ownership. This legally binding document outlines essential details, such as the property’s description, agreed-upon purchase price, closing date, and associated costs.
The buyer and seller can negotiate specific contingencies, including specific financial obligations or additional property inclusions. Once they agree, they can incorporate these details into the agreement and sign it, solidifying their commitment and binding them to the contract’s terms.
State Laws
- Seller’s Duty for Improved Residential Property: The seller must provide a complete seller disclosure statement following the requirements and formatting under state law for improved residential property [1] .
- Seller’s Duty for Unimproved Residential Property: The seller must provide a complete seller disclosure statement adhering to the requirements and formatting under state law for unimproved residential property [2] .
- Buyer’s Waiver: The buyer can waive their right to a seller disclosure statement, meaning the seller will have no legal obligation to provide it [3] .
- Notice Regarding Sex Offenders: Sellers have no obligation to disclose the presence (or lack thereof) of sex offenders on a for-sale property [4] .
- Disclosure of Possible Proximity to a Working Forest or Farm: The seller must inform a buyer if the property for sale lies in close proximity to a working forest or farm [5] .
- Seller’s Notice for Oil Tank for Heating: The seller must inform the buyer that if the real property for sale utilizes an oil tank for heating purposes, no cost insurance may be available from the pollution liability insurance agency [6] .
Realtor Version
Short-Form Residential Real Estate Contract
This contract from the Washington State Bar Association lets realtors facilitate real estate transactions.
Required Seller Disclosures
Lead-Based Paint Disclosure
42 U.S. Code ยง 4852d requires sellers to divulge lead-based paint hazards to buyers for any home built before 1978.
Property Disclosure Statement
The seller must complete a seller disclosure form, ensuring to divulge all details outlined in RCW 64.06.020. Per RCW 64.06.030, the seller must issue the disclosure within five business days after the purchase agreement's execution date.
Do Sellers in Washington Have to Disclose Property Defects?
Yes. Washington sellers must divulge any material defects on a property before selling it. This provision makes it different from other states that implement the idea of “caveat emptor,” which dictates that buyers are responsible for learning about the property’s condition.
In Washington, sellers have a liability to ensure they reveal all material issues with a property.
