Residential Purchase And Sale Agreement. Form 21

Two new termination forms provide for the termination of the sales contract in accordance with the Well Addendum (Form 22R) and the Septic Addendum (Form 22S). The two new forms are: Well Addendum (Form 90X) and Termination (Septic Addendum) (Form 90Y). The new addition for additional signatories (Form 22Z) is suitable for transactions in which more than two sellers or two buyers must perform the sales contract. A third or fourth buyer/seller can run the new form containing all the conditions of the sales contract. The form should not be used if no more than two buyers or sellers need to sign. Finally, Form 22B has been revised to prohibit the buyer from changing the deadline for the sale of the buyer`s real estate without the seller`s written consent. This is due to the fact that a change in the closing date of the buyer`s property necessarily changes the closing date of the seller`s property. Washington`s sales contract requires written documentation of the event in which one piece of land is transferred to another for a certain financial number. Any agreed contingencies or conditional arrangements may be negotiated between the parties for inclusion in the document. Paperwork becomes mandatory as soon as all the persons concerned have affixed their signatures to the undertaking. This is not a new form. But I believe it is Form 11 (Recommendation Agreement) The general term “x" (Information Review Period and Property Exclusion) has been divided into two separate provisions. The new general term “w" (Information Verification Period) gives the buyer ten days to verify all information provided by the seller or listing company.

The new general term “x" (Property Condition Disclaimer) informs the seller and buyer of the condition of the property and the obligation for the parties to perform their own due diligence during the transaction. The Island County Noise Disclosure (Form 22W) has been revised to include the City of Oak Harbor`s noise openness requirement (previously included in Form 22X). . . .

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