The Washington property disclosure statement is a document that discloses the condition and title information of a residential property to a prospective buyer to inform their decision to make a purchase offer. The completed document will provide information including the property’s water supply, sewage system, structural damage, defects, easements, and title.
Unless the buyer waives their right to receive a property disclosure statement, the seller must provide them with one within five (5) days of signing a purchase agreement. The buyer will have three (3) days from the date that the disclosure was received to approve and sign the document or cancel the agreement. If the buyer doesn’t provide notice within three (3) days that they have rescinded their offer, it will be accepted and the purchase agreement will be considered valid.
Purchase Agreement – Establishes the terms and conditions for the purchase of residential property between a buyer and seller.