After accepting the disclosure, the buyer will have three (3) business days to continue with the purchase or cancel the offer. Within five (5) business days after the agreement is made, the seller must provide the buyer with a Seller’s Disclosure Statement detailing the condition of the property. Should both parties come to an agreement on the purchase conditions, they can sign the document to create a legally binding commitment to transfer ownership of the property. During this time, the seller may alter the terms by submitting to the buyer a counter-offer. The seller will have a designated period in which they can respond to the offer before it expires. Included in the offer will be the requested purchase price and other conditions established by the buyer. The agreement initiates the negotiation process by indicating the buyer’s proposal to acquire the property. A Washington residential purchase and sale agreement is used when making an offer to purchase real estate.
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