Washington State Property Sales Agreement

Disclosure statement of sellers` real estate (form 17) – State statutes provide that an accepted offer to purchase a residential property must contain documents that reveal the condition of the property. This accompanying disclosure must be notified to the buyer within five days of the signing of the sales contract. Once the disclosure has been received, the purchaser has three days to decide whether the condition of the property is acceptable and whether he wishes to close the sale. If the content of the disclosure is unacceptable to the purchaser, they are given three days to terminate the contract in writing. If no written notification of revocation is sent, the contract remains binding. A. Interpretation of the contract. When checking a contract to buy and sell real estate, you should not accept anything and verify everything. Washington follows the “objective” theory of treaty interpretation, where the courts look at the language of the contract to determine the intent of the parties. Most contracts for the purchase and sale of real estate in Washington will have standardized rules whose amendments can be negotiated by the parties. If you have agreed with a customer for an advance fee (z.B to cover advertising costs), all due checks must be carried out with the company for which you receive a license. You cannot personally withhold funds that come directly from a client or client for brokerage services. Washington State also applies property tax on the sale of “dominant shares” to companies holding real estate in the state.

For a company, a “dominant interest” represents 50% or more of the total stock of voting shares, or 50% or more of the capital, profits or useful shares of the voting share. For companies other than companies, a “dominant stake” is equal to or greater than 50% of the company`s capital, profits or useful shares. The contract for sale in Washington refers to written documentation of the event in which land is passed on to another for a specified financial sum. Any contingencies or conditional provisions can be negotiated between the parties to be included in the document. The paperwork becomes a binding contract as soon as everyone involved has signed the commitment. NOTE: The revised Washington Code defines “enhanced real estate” as real estate of one to four residential units, specific residential dwellings, part-time units (unless the law is legally disclosed) and mobile or manufactured dwellings. RCW 64.06.005 (2). “Unimproved wohnimmobilien” is a residential use area that is not improved by any of the areas mentioned above. RCW 64.06.005 (5). State of washington Public Disclosure Commission 711 capitol way rm.

206, po box 40908 Olympia, washington 98504-0908 (360) 753-1 fax (360) 753-2 free 1-877-601-2828 e-mail: pdc pdc.wa.gov website: .pdc.wa.gov to: date: subject:… Be sure to check the licenses of real estate agents, brokers or property managers with whom you are dealing. License information is available at the Washington State Department of Licensing at (360) 664-6505. To verify the license of a mortgage broker or lender, you can call the State Department of Washington Financial Institutions at 1-877-RING-DFI. (2) Property tax: The State of Washington levies a tax on the sale of real estate. The state tax rate is 0.0128%, although counties or municipalities may collect additional taxes. The tax applies to the seller, but the buyer can be held liable for the tax if it cannot be recovered by the seller. The tax is normally levied by the Landkreis on presentation of the sales documents for registration in the public records. The contracting parties buying and purchasing standard real estate, as the buyer, and, hereafter referred to as sellers, here matter that the seller will sell and purchase the following real estate, with…