Updated April 18, 2024
A Washington commercial real estate purchase and sale agreement is a contract between a buyer and seller containing terms and conditions for the purchase of commercial real estate. These conditions cover all aspects of the buyer’s offer including the purchase amount, desired closing and completion dates, financing terms, contingencies, and earnest money deposit (usually 1% to 2%). After the offer is reviewed by the seller, they will have several options: accept the proposal, submit a counteroffer, or reject the offer altogether. Real estate offers typically include an expiration date, so time is of the essence when negotiating terms.
Disclosures
Agency Laws – Brokers must provide a pamphlet to buyers and sellers that informs them of agency laws in the state.[1]
Agency Disclosure – An agency disclosure must be given to buyers and sellers that indicates which parties are represented by the broker during the real estate transaction.[2]
Realtor Version
KR Business Brokers – PDF
Residential Property
Washington Residential Purchase Agreement – A legal contract containing the terms and conditions of a residential property purchase and sale transaction.
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