Updated on June 21st, 2023
The Washington purchase agreement documents the sale of a piece of real property for a specified financial figure. Any stipulated contingencies or conditional provisions can be negotiated between the parties to be included within the document. The paperwork becomes a binding contract once all involved individuals have affixed their signatures to the document.
Lead-Based Paint Disclosure (42 U.S. Code § 4852d) – It is obligated that the agreement contains language expressing the possibility of lead-based paint exposure associated with buildings that have been constructed before 1979. The language must refer to the potential for being exposed to the paint and the hazardous effects that it can cause.
Seller Property Disclosure Statement (Form 17) – State statutes mandate that an accepted offer for the purchase of a residential property must include documentation disclosing the property’s condition. This accompanying disclosure must be delivered to the buyer within five days of the signing of the sales contract. Once the disclosure is received, the buyer has three days to decide if the condition of the property is acceptable and whether they wish to conclude the sale. Should the disclosure contents prove unacceptable to the buyer, they will be granted three days to provide written notice to rescind the contract. If no written rescinding notification is delivered, the agreement will remain binding (§ 64.06.030).
Northwest MLS Residential Real Estate Purchase and Sale Agreement (Form 21) – PDF