Washington State Residential Purchase And Sale Agreement Form 21 Details

The Nwmls Form 21 is an important form to be familiar with if you are a real estate agent. The form is used for disclosures related to property inspections, and it's important to understand what information needs to be disclosed and when. This form can help protect you from potential legal issues down the road, so it's critical that you are aware of its contents. In this blog post, we'll go over the different sections of the Nwmls Form 21 and explain what each one means. We'll also provide some tips on how to complete the form correctly.

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Form NameNwmls Form 21
Form Length4 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min
Other namesform 21 residential purchase and sale agreement copyright 2011, washington state mls form 21, northwest mls forms, washington state purchase and sale agreement form 21

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NWMLS Form 21

 

 

 

 

 

 

©Copyright 2006

Residential Purchase & Sale Agreement

 

 

 

Northwest Multiple Listing Service

Revised 6/06

 

 

 

 

 

 

ALL RIGHTS RESERVED

Page 1 of 4

 

 

 

 

 

 

 

 

 

 

RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT

 

 

 

 

 

SPECIFIC TERMS

 

 

 

 

 

 

 

 

 

 

1. Date:

 

 

 

MLS No.:

 

 

 

,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.Buyer:

3.Seller:

4. Property: Tax Parcel Nos.:

 

 

 

 

 

 

 

 

 

 

 

 

(

 

 

 

 

 

 

County)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Street Address:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Washington

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Included Items:

 

stove/range

 

refrigerator

 

washer

 

 

dryer

 

 

dishwasher

 

hot tub

 

fireplace insert

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

wood stove

 

satellite dish

 

security system

 

other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Legal Description:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5.Purchase Price:

6. Earnest Money: (To be held by

 

Selling Broker

 

Closing Agent)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

):

7.Default: (check only one) Forfeiture of Earnest Money Seller’s Election of Remedies

8.Title Insurance Company:

9.Closing Agent: a qualified closing agent of Buyer’s choice

10. Closing Date:

11.

Possession Date:

on Closing

Other

12.

Offer Expiration Date:

 

 

13.

Counteroffer Expiration Date:

 

14.

Addenda:

 

 

15.

Agency Disclosure: Selling Licensee represents

 

 

Buyer

 

Seller

 

both parties

 

neither party

 

 

 

 

 

 

 

 

 

 

 

 

Listing Agent represents

 

 

Seller

 

both parties

 

 

 

 

16.

Services of Closing Agent for Payment of Utilities:

 

 

Requested (Attach NWMLS Form 22K)

 

Waived

 

 

 

Buyer's Signature

Date

 

 

Buyer's Signature

Date

 

 

Buyer's Address

 

 

 

City, State, Zip

 

 

 

Phone

Fax

 

 

Buyer's E-mail Address

 

 

 

Selling Broker

MLS Office No.

 

 

Selling Licensee (Print)

 

 

 

Phone

Fax

Seller's Signature

Date

 

 

Seller's Signature

Date

 

 

Seller's Address

 

 

 

City, State, Zip

 

 

 

Phone

Fax

 

 

Seller's E-mail Address

 

 

 

Listing Broker

MLS Office No.

 

 

Listing Agent (Print)

 

 

 

Phone

Fax

NWMLS Form 21

 

 

 

 

 

 

 

 

 

 

 

 

 

©Copyright 2006

 

Residential Purchase & Sale Agreement

 

 

 

 

 

 

 

 

 

 

 

 

Northwest Multiple Listing Service

Revised 6/06

 

 

 

 

 

 

 

 

 

 

 

 

 

ALL RIGHTS RESERVED

 

Page 2 of 4

RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT

 

 

 

 

 

 

 

GENERAL TERMS

 

 

 

 

 

 

 

 

 

 

 

 

(CONTINUED)

 

 

 

 

 

 

 

 

a. Purchase Price. Buyer agrees to pay to Seller the Purchase Price, including the Earnest Money, in cash at Closing,

1

unless otherwise specified in this Agreement. Buyer represents that Buyer has sufficient funds to close this sale in

2

accordance with this Agreement and is not relying on any contingent source of funds or gifts, except to the extent

3

otherwise specified in this Agreement.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4

b. Earnest Money. Buyer agrees to deliver the Earnest Money within 2 days after mutual acceptance of this Agreement

5

to Selling Licensee who will deposit any check to be held by Selling Broker, or deliver any Earnest Money to be held

6

by Closing Agent, within 3 days of receipt or mutual acceptance, whichever occurs later. If the Earnest Money is held

7

by Selling Broker and is over $10,000.00 it shall be deposited into an interest bearing trust account in Selling Broker's

8

name provided that Buyer completes an IRS Form W-9. Interest, if any, after deduction of bank charges and fees, will

9

be paid to Buyer. Buyer agrees to reimburse Selling Broker for bank charges and fees in excess of the interest

10

earned, if any. If the Earnest Money held by Selling Broker is over $10,000.00 Buyer has the option to require Selling

11

Broker to deposit the Earnest Money into the Housing Trust Fund Account, with the interest paid to the State

12

Treasurer, if both Seller and Buyer so agree in writing. If the Buyer does not complete an IRS Form W-9 before

13

Selling Broker must deposit the Earnest Money or the Earnest Money is $10,000.00 or less, the Earnest Money shall

14

be deposited into the Housing Trust Fund Account. Selling Broker may transfer the Earnest Money to Closing Agent at

15

Closing. If all or part of the Earnest Money is to be refunded to Buyer and any such costs remain unpaid, the Selling

16

Broker or Closing Agent may deduct and pay them therefrom. The parties instruct Closing Agent to: (1) provide written

17

verification of receipt of the Earnest Money and notice of dishonor of any check to the parties and licensees at the

18

addresses and/or fax numbers provided herein; and (2) commence an interpleader action in the Superior Court for the

19

county in which the Property is located within 30 days of a party's demand for the Earnest Money (and deduct up to

20

$250.00 of the costs thereof) unless the parties agree otherwise in writing.

 

 

 

 

 

 

 

21

c. Included Items. Any of the following items located in or on the Property are included in the sale: built-in appliances;

22

wall-to-wall carpeting; curtains, drapes and all other window treatments; window and door screens; awnings; storm

23

doors and windows; installed television antennas; ventilating, air conditioning and heating fixtures; trash compactor;

24

fireplace doors, gas logs and gas log lighters; irrigation fixtures; electric garage door openers; water heaters; installed

25

electrical fixtures; lighting fixtures; shrubs, plants and trees planted in the ground; and all bathroom and other fixtures.

26

However, items identified in Specific Term No. 4 are included only if the corresponding box is checked. If any of the

27

above Included Items are leased or encumbered, Seller agrees to acquire and clear title at or before Closing.

28

d. Condition of Title. Unless otherwise specified in this Agreement, title to the Property shall be marketable at Closing.

29

The following shall not cause the title to be unmarketable: rights, reservations, covenants, conditions and restrictions,

30

presently of record and general to the area; easements and encroachments, not materially affecting the value of or

31

unduly interfering with Buyer’s reasonable use of the Property; and reserved oil and/or mining rights. Monetary

32

encumbrances not assumed by Buyer shall be paid by Seller on or before Closing. Title shall be conveyed by a

33

Statutory Warranty Deed. If this Agreement is for conveyance of a buyer’s interest in a Real Estate Contract, the

34

Statutory Warranty Deed shall include a buyer’s assignment of the contract sufficient to convey after acquired title.

35

e. Title Insurance. Seller authorizes Buyer's lender or Closing Agent, at Seller's expense, to apply for an Homeowner's

36

Policy of Title Insurance for One-to-Four Family Residence (ALTA 1998), from the Title Insurance Company. If the

37

Title Insurance Company selected by the parties will not issue a Homeowner's Policy for the Property, the parties

38

agree that the Title Insurance Company shall instead issue a standard form Owner's Policy (ALTA 1992). The Title

39

Insurance Company is to send a copy of the preliminary commitment to both Listing Agent and Selling Licensee. The

40

preliminary commitment, and the title policy to be issued, shall contain no exceptions other than the General

41

Exclusions and Exceptions in the Policy and Special Exceptions consistent with the Condition of Title herein

42

provided. If title cannot be made so insurable prior to the Closing Date, then as Buyer's sole and exclusive remedy,

43

the Earnest Money shall, unless Buyer elects to waive such defects or encumbrances, be refunded to the Buyer, less

44

any unpaid costs described in this Agreement, and this Agreement shall thereupon be terminated. Buyer shall have

45

no right to specific performance or damages as a consequence of Seller's inability to provide insurable title.

46

f. Closing. This sale shall be closed by the Closing Agent on the Closing Date. If the Closing Date falls on a Saturday,

47

Sunday, or legal holiday as defined in RCW 1.16.050, the Closing Agent shall close the transaction on the next day

48

that is not a Saturday, Sunday, or legal holiday. "Closing" means the date on which all documents are recorded and

49

the sale proceeds are available to Seller. Seller shall deliver keys to Buyer on the Closing Date or on the Possession

50

Date, whichever occurs first.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

51

Initials: BUYER:

 

DATE:

 

 

 

SELLER:

 

 

 

 

 

 

 

DATE:

 

 

 

 

52

BUYER:

 

DATE:

 

 

 

SELLER:

 

 

 

 

 

DATE:

 

 

 

 

53

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NWMLS Form 21

 

©Copyright 2006

 

Residential Purchase & Sale Agreement

Northwest Multiple Listing Service

Revised 6/06

 

ALL RIGHTS RESERVED

 

Page 3 of 4

RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT

 

 

 

 

GENERAL TERMS

 

 

 

(CONTINUED)

 

 

g. Possession. Buyer shall be entitled to possession at 9:00 p.m. on the Possession Date. Seller agrees to maintain the

54

Property in its present condition, normal wear and tear excepted, until the Buyer is entitled to possession.

55

h. Closing Costs and Prorations. Seller and Buyer shall each pay one-half of the escrow fee unless this sale is FHA or

56

VA financed, in which case it shall be paid according to FHA or VA regulations. Taxes for the current year, rent,

57

interest, and lienable homeowner's association dues shall be prorated as of Closing. Buyer agrees to pay Buyer's loan

58

costs, including credit report, appraisal charge and lender's title insurance, unless provided otherwise in this

59

Agreement. If any payments are delinquent on encumbrances which will remain after Closing, Closing Agent is

60

instructed to pay them at Closing from money due, or to be paid by, Seller. Buyer agrees to pay for remaining fuel in

61

the fuel tank if, prior to Closing, Seller obtains a written statement as to the quantity and current price from the

62

supplier. Seller agrees to pay all utility charges, including unbilled charges. Unless waived in Specific Term No. 16,

63

Seller and Buyer request the services of Closing Agent in disbursing funds necessary to satisfy unpaid utility charges

64

in accordance with RCW 60.80 and Seller agrees to provide the names and addresses of all utilities providing service

65

to the Property and having lien rights (attach NWMLS Form 22K Identification of Utilities or equivalent).

66

i. Sale Information. The Listing Agent or Selling Licensee is authorized to report this Agreement (including price and all

67

terms) to the Multiple Listing Service that published it and to its members, financing institutions, appraisers, and

68

anyone else related to this sale. Buyer and Seller expressly authorize all Closing Agents, appraisers, title insurance

69

companies, and others related to this Sale, to furnish the Listing Agent and/or Selling Licensee, on request, any and

70

all information and copies of documents concerning this sale.

 

71

j. FIRPTA - Tax Withholding at Closing. The Closing Agent is instructed to prepare a certification (NWMLS Form 22E

72

or equivalent) that Seller is not a “foreign person” within the meaning of the Foreign Investment In Real Property Tax

73

Act. Seller agrees to sign this certification. If Seller is a foreign person, and this transaction is not otherwise exempt

74

from FIRPTA, Closing Agent is instructed to withhold and pay the required amount to the Internal Revenue Service.

75

k. Notices. In consideration of the license to use this and NWMLS's companion forms and for the benefit of the Listing

76

Agent and the Selling Licensee as well as the orderly administration of the offer, counteroffer or this Agreement, the

77

parties irrevocably agree that unless otherwise specified in this Agreement, any notice required or permitted in, or

78

related to, this Agreement (including revocations of offers or counteroffers) must be in writing. Notices to Seller must

79

be signed by at least one Buyer and shall be deemed given only when the notice is received by Seller, by Listing

80

Agent or at the licensed office of Listing Agent. Notices to Buyer must be signed by at least one Seller and shall be

81

deemed given only when the notice is received by Buyer, by Selling Licensee or at the licensed office of Selling

82

Licensee. Receipt by Selling Licensee of a Seller Disclosure Statement, Disclosure of Information on Lead-Based

83

Paint and Lead-Based Paint Hazards, Public Offering Statement or Resale Certificate, or a preliminary commitment

84

for title insurance provided pursuant to NWMLS Form 22T shall be deemed receipt by Buyer. Selling Licensee and

85

Listing Agent have no responsibility to advise of receipt of a notice beyond either phoning the party or causing a copy

86

of the notice to be delivered to the party's address shown on this Agreement. Buyer and Seller must keep Selling

87

Licensee and Listing Agent advised of their whereabouts in order to receive prompt notification of receipt of a notice.

88

l. Computation of Time. Unless otherwise specified in this Agreement, any period of time measured in days and stated

89

in this Agreement shall start on the day following the event commencing the period and shall expire at 9:00 p.m. of the

90

last calendar day of the specified period of time. Except for the Possession Date, if the last day is a Saturday, Sunday

91

or legal holiday as defined in RCW 1.16.050, the specified period of time shall expire on the next day that is not a

92

Saturday, Sunday or legal holiday. Any specified period of 5 days or less shall not include Saturdays, Sundays or legal

93

holidays. If the parties agree that an event will occur on a specific calendar date, the event shall occur on that date,

94

except for the Closing Date, which, if it falls on a Saturday, Sunday or legal holiday as defined in RCW 1.16.050, shall

95

occur on the next day that is not a Saturday, Sunday, or legal holiday. Time is of the essence of this Agreement.

96

m. Facsimile and E-mail Transmission. Facsimile transmission of any signed original document, and retransmission of

97

any signed facsimile transmission, shall be the same as delivery of an original. At the request of either party, or the

98

Closing Agent, the parties will confirm facsimile transmitted signatures by signing an original document. E-mail trans-

99

mission of any document or notice shall not be effective unless the parties to this Agreement otherwise agree in writing.100

n. Integration. This Agreement constitutes the entire understanding between the parties and supersedes all prior or contemporaneous understandings and representations. No modification of this Agreement shall be effective unless agreed in writing and signed by Buyer and Seller.

Initials: BUYER:

 

DATE:

 

SELLER:

 

DATE:

BUYER:

 

DATE:

 

SELLER:

 

DATE:

101

102

103

104

105

NWMLS Form 21

 

 

 

 

 

 

 

©Copyright 2006

 

Residential Purchase & Sale Agreement

 

 

 

Northwest Multiple Listing Service

Revised 6/06

 

 

 

 

 

 

 

ALL RIGHTS RESERVED

Page 4 of 4

RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT

 

 

 

 

 

 

 

 

GENERAL TERMS

 

 

 

 

 

 

 

 

 

(CONTINUED)

 

 

 

 

o. Assignment. Buyer may not assign this Agreement, or Buyer’s rights hereunder, without Seller’s prior written

106

consent, unless the parties indicate that assignment is permitted by the addition of "and/or assigns" on the line

107

identifying the Buyer on the first page of this Agreement.

 

 

 

108

p. Default. In the event Buyer fails, without legal excuse, to complete the purchase of the Property, then the following

109

provision, as identified in Specific Term No. 7, shall apply:

 

 

 

110

i. Forfeiture of Earnest Money. That portion of the Earnest Money that does not exceed five percent (5%) of the

111

Purchase Price shall be forfeited to the Seller as the sole and exclusive remedy available to Seller for such failure.

112

ii. Seller’s Election of Remedies. Seller may, at Seller's option, (a) keep the Earnest Money as liquidated damages

113

as the sole and exclusive remedy available to Seller for such failure, (b) bring suit against Buyer for Seller's actual

114

damages, (c) bring suit to specifically enforce this

Agreement and recover any incidental damages, or (d) pursue

115

any other rights or remedies available at law or equity.

 

 

 

116

q. Attorneys’ Fees. If Buyer or Seller institutes suit against the other concerning this Agreement, the prevailing party

117

is entitled to reasonable attorneys’ fees and expenses.

 

 

 

118

r. Offer. Buyer agrees to purchase the Property under the terms and conditions of this Agreement. Seller shall have

119

until 9:00 p.m. on the Offer Expiration Date to accept this offer, unless sooner withdrawn. Acceptance shall not be

120

effective until a signed copy is actually received by Buyer, by Selling Licensee or at the licensed office of Selling

121

Licensee. If this offer is not so accepted, it shall lapse and any Earnest Money shall be refunded to Buyer.

122

s. Counteroffer. Seller agrees to sell the Property under the terms and conditions of this Agreement. If Seller makes

123

a counteroffer, Buyer shall have until 9:00 p.m. on the Counteroffer Expiration Date to accept that counteroffer,

124

unless sooner withdrawn. Acceptance shall not be effective until a signed copy is actually received by Seller, by

125

Listing Agent or at the licensed office of Listing Agent. If the counteroffer is not so accepted, it shall lapse and any

126

Earnest Money shall be refunded to Buyer. If no expiration date is specified for a counteroffer, the counteroffer

127

shall expire at 9:00 p.m. 2 days after the counteroffer is delivered by the last party making the counteroffer, unless

128

sooner withdrawn.

 

 

 

 

 

 

 

 

 

129

t. Agency Disclosure. Selling Broker represents the same party that Selling Licensee represents. Listing Broker

130

represents the same party that the Listing Agent represents. If Selling Licensee and Listing Agent are different

131

salespersons affiliated with the same Broker, then both Buyer and Seller confirm their consent to that Broker

132

representing both parties as a dual agent. If Selling Licensee and Listing Agent are the same salesperson

133

representing both parties then both Buyer and Seller confirm their consent to that salesperson and his/her Broker

134

representing both parties as dual agents. All parties acknowledge receipt of the pamphlet entitled "The Law of Real

135

Estate Agency."

 

 

 

 

 

 

 

 

 

136

u. Commission. Seller and Buyer agree to pay a commission in accordance with any listing or commission agreement

137

to which they are a party. The Listing Broker's commission shall be apportioned between Listing Broker and Selling

138

Broker as specified in the listing. Seller and Buyer hereby consent to Listing Broker or Selling Broker receiving

139

compensation from more than one party. Seller and Buyer hereby assign to Listing Broker and Selling Broker, as

140

applicable, a portion of their funds in escrow equal to such commission(s) and irrevocably instruct the Closing Agent

141

to disburse the commission(s) directly to the Broker(s). In any action by Listing or Selling Broker to enforce this

142

paragraph, the prevailing party is entitled to court costs and reasonable attorneys' fees.

 

 

 

143

v. Cancellation Rights/Lead-Based Paint. If a residential dwelling was built on the Property prior to 1978, and Buyer

144

receives a Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards (NWMLS Form 22J) after

145

mutual acceptance, Buyer may rescind this Agreement at any time up to 3 days thereafter.

 

 

 

146

w. Property Condition Disclaimer. Real estate brokers and salespersons do not guarantee the value, quality or con-

147

dition of the Property. Some properties may contain building materials, including siding, roofing, ceiling, insulation,

148

electrical, and plumbing materials, that have been the subject of lawsuits and/or governmental inquiry because of

149

possible defects or health hazards. In addition, some properties may have other defects arising after construction,

150

such as drainage, leakage, pest, rot and mold problems. Real estate licensees do not have the expertise to identify

151

or assess defective products, materials, or conditions. Buyer is urged to retain inspectors qualified to identify the

152

presence of defective materials and evaluate the condition of the Property.

 

 

 

153

Initials: BUYER:

 

 

DATE:

 

 

SELLER:

 

 

DATE:

 

154

BUYER:

 

 

DATE:

 

 

SELLER:

 

 

DATE:

 

155

 

 

 

 

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