Washington law requires that real property is conveyed by deed. There are different types of deeds, but generally a deed must:
While many real estate transactions involve a real estate agent, this is at the choice of the buyer or seller. A real estate agent must have a written agreement with their client to perform real estate brokerage services. Real estate agents have certain duties to their client, including:
When a property owner is solicited for the purchase of their property through public advertising or written, electronic, or in-person contact, and the property is not currently available or listed on the real estate market, the property owner has certain rights. The property owner has the right to an appraisal by a licensed appraiser, the right to receive notice from the potential buyer of the right to an appraisal, and the right to cancel the purchase contract without penalty or further obligation under certain conditions.
For property owners who wish to exercise their right to an appraisal:
For property owners who do not wish to receive an appraisal, the property owner has the right to cancel the purchase contract within 10 business days after execution of the contract.
In the event the property owner wishes to cancel, the property owner must send a notice of cancellation to the buyer by mail, telegram, email, or other means of written communication. Notice of cancellation is considered given when mailed, filed, emailed, or if sent by other means, when delivered to the buyer's designated place of business.
Purchase contracts for these types of solicited real estate transactions must state clearly in at least 10 point boldface type, and the seller must affirmatively acknowledge, that the seller has the right to an appraisal and has a right to cancel.
Violations are enforced under the Consumer Protection Act.