A Washington residential real estate purchase agreement (“Contract for Sale and Purchase of Real Estate”) is a contract which commits a buyer to an offer to purchase real estate, according to specific terms agreed by the buyer and seller. Negotiated specifics include the purchase price, financing method, closing date, and more.
Do Sellers in Washington Have To Disclose Property Defects?
Washington does require real estate sellers to disclose any material defects with a property. In most cases, this is through a standardized disclosure form provided by statute.
The seller always has a duty to disclose all material defects covered by the statutory requirement, even when the buyer agrees to take the property “as-is,” unless the buyer expressly waives a disclosure and the property has no environmental defects.
Exceptions to the Disclosure Rules in Washington
Any fact which might materially affect the value of a property potentially counts as a material defect, except for whether there are sex offenders publicly registered in the area. Washington also exempts the following common transfers, among others, from the standard disclosure form requirement:
- Sales by foreclosure
- Transfer as part of the execution of a will or estate
- Transfer as a part of a bankruptcy plan
- Transfer to a spouse, parent, or child
Required Seller Disclosures in Washington
Washington sellers of residential real estate must make the following disclosures, as appropriate, in order for a real estate purchase agreement to be considered legally binding:
- Property Condition Disclosure Statement: Discloses material defects with a property that are known to the seller at the time of sale, and details any potential issues and conditions that may affect the value of the property.
- Lead-Based Paint Disclosure: Any home constructed earlier than 1978 must come with a disclosure upon the transfer of the property which includes any information about the presence of lead on the premises, as well as educational materials that communicate the health risks associated with lead exposure.
Sources
- 1 Wash. Rev. Code § 64.06.020(1)
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In a transaction for the sale of improved residential real property, the seller shall, unless the buyer has expressly waived the right to receive the disclosure statement under RCW 64.06.010, or unless the transfer is otherwise exempt under RCW 64.06.010, deliver to the buyer a completed seller disclosure statement.
Source Link - 2 Wash. Rev. Code § 64.06.021
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The notice regarding sex offenders under RCW 64.06.020 does not create any legal duty on the part of the seller, or on the part of any real estate licensee, to investigate or to provide the buyer with information regarding the actual presence, or lack thereof, of registered sex offenders in the area of any property, including but not limited to any property that is the subject of a disclosure or waiver of disclosure under this chapter, or that is exempt from disclosure under RCW 64.06.010.
Source Link - 3 Wash. Rev. Code § 64.06.010
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This chapter does not apply to the following transfers of real property:
(1) A foreclosure or deed-in-lieu of foreclosure;
(2) A gift or other transfer to a parent, spouse, domestic partner, or child of a transferor or child of any parent, spouse, or domestic partner of a transferor;
(3) A transfer between spouses or between domestic partners in connection with a marital dissolution or dissolution of a state registered domestic partnership;
(4) A transfer where a buyer had an ownership interest in the property within two years of the date of the transfer including, but not limited to, an ownership interest as a partner in a partnership, a limited partner in a limited partnership, a shareholder in a corporation, a leasehold interest, or transfers to and from a facilitator pursuant to a tax deferred exchange;
(5) A transfer of an interest that is less than fee simple, except that the transfer of a vendee’s interest under a real estate contract is subject to the requirements of this chapter;
(6) A transfer made by the personal representative of the estate of the decedent or by a trustee in bankruptcy; and
(7) A transfer in which the buyer has expressly waived the receipt of the seller disclosure statement. However, if the answer to any of the questions in the section entitled “Environmental” would be “yes,” the buyer may not waive the receipt of the “Environmental” section of the seller disclosure statement.
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