Recent Washington state legislation significantly impacts buyer’s obligations to sellers in unlisted property transactions.  RCW 61.40.010 (https://app.leg.wa.gov/RCW/default.aspx?cite=61.40.010), effective January 1, 2026, creates a new “appraisal contingency” in circumstances where a buyer makes an unsolicited offer on property not listed for sale and either the seller or the buyer is not represented by a real estate broker.  Under these circumstances, the statute mandates that:

1.  Right to Appraisal.  The seller has the right to request an appraisal by an appraiser (licensed by Washington state) of its own choosing, which must be paid for by buyer.
2. Termination with Appraisal.  If seller obtains an appraisal, the seller has the right to terminate the purchase and sale agreement within 4 days of receipt for any reason, without penalty or further obligation, regardless of the amount of the appraisal.
3. Termination without Appraisal.  If the seller declines to get an appraisal, they can still terminate the purchase and sale agreement within 10 days of mutual execution for any reason, without penalty or further obligation.
4. Rights Included in the Purchase and Sale Agreement.  The purchase and sale agreement must clearly state these rights in at least 10-point boldface type which rights must be affirmatively acknowledged in writing by the seller.
5. CPA Violation.  Non-compliance will be deemed an unfair or deceptive act in trade or commerce and an unfair method of competition allowing the remedies under the Consumer Protection Act, RCW 19.86.  

If you have questions, please contact your attorney at Gordon Thomas Honeywell.