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Blank Nwmls 21 Form

The NWMLS Form 21 is a standardized document used in Washington State for residential real estate transactions. This form serves as a Residential Purchase and Sale Agreement, outlining the specific terms and conditions under which a buyer agrees to purchase a property from a seller. It includes essential details such as the purchase price, earnest money, and closing dates, ensuring that both parties have a clear understanding of their obligations throughout the transaction.

Outline

The NWMLS Form 21 is a crucial document in the residential real estate transaction process, serving as the Residential Purchase and Sale Agreement. This form outlines specific terms between the buyer and seller, including essential details such as the date of the agreement, the property address, and the MLS number. It also addresses the purchase price and earnest money, specifying how funds will be held and disbursed. Included items, such as appliances and fixtures, are clearly listed to prevent any misunderstandings during the sale. The form further stipulates the responsibilities of both parties regarding title insurance, closing agents, and the timeline for closing and possession of the property. Additionally, it includes provisions for default, agency disclosures, and any applicable addenda. By using this form, buyers and sellers can navigate the complexities of real estate transactions with greater clarity and security.

Sample - Nwmls 21 Form

Form 21	©Copyright 2011
Residential Purchase & Sale Agreement	Northwest Multiple Listing Service
Rev. 8/11	ALL RIGHTS RESERVED
Page 1 of 5
RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT
SPECIFIC TERMS
1. Date: __________________________________________ MLS No.:	__________________________________

2.Buyer: _____________________________________________________________________________________

3.Seller: ______________________________________________________________________________________

4. Property: Tax Parcel No(s).: ____________________________________ ( ______________________County)

Street Address: ___________________________________________________ Washington ________________

Legal Description: Attached as Exhibit A.

5.Included Items:  stove/range;  refrigerator;  washer;  dryer;  dishwasher;  hot tub;  fireplace insert;

 wood stove;  satellite dish;  security system;  other ___________________________________________

6.Purchase Price: $_____________________________________________________________________________

7.Earnest Money: (To be held by  Selling Firm;  Closing Agent)

Personal Check: $______________; Note: $______________; Other ( ________________ ): $ _______________

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

9.Title Insurance Company: _____________________________________________________________________

10.Closing Agent:  a qualified closing agent of Buyer’s choice;  _______________________________________

11.Closing Date: ________________________________________________________________________________

12.Possession Date:  on Closing;  Other _________________________________________________________

13.Offer Expiration Date: _________________________________________________________________________

14.Services of Closing Agent for Payment of Utilities:  Requested (attach NWMLS Form 22K);  Waived

15.Charges and Assessments Due After Closing:  assumed by Buyer;  prepaid in full by Seller at Closing

16.Agency Disclosure: Selling Broker represents:  Buyer;  Seller;  both parties;  neither party

Listing Broker represents:  Seller;  both parties

17.Addenda: ___________________________________________________________________________________

____________________________________________________________________________________________

______________________________________________		____________________________________________
Buyer’s Signature	Date	Seller’s Signature	Date
______________________________________________		____________________________________________
Buyer’s Signature	Date	Seller’s Signature	Date
______________________________________________		____________________________________________
Buyer’s Address		Seller’s Address
______________________________________________		____________________________________________
City, State, Zip		City, State, Zip
______________________________________________		____________________________________________
Phone No.	Fax No.	Phone No.	Fax No.
______________________________________________		____________________________________________
Buyer’s E-mail Address		Seller’s E-mail Address
______________________________________________		____________________________________________
Selling Firm	MLS Office No.	Listing Firm	MLS Office No.
______________________________________________		____________________________________________
Selling Firm’s Assumed Name (if applicable)		Listing Firm’s Assumed Name (if applicable)
______________________________________________		____________________________________________
Selling Broker (Print)	MLS LAG No.	Listing Broker (Print)	MLS LAG No.
______________________________________________		____________________________________________
Phone No.	Firm Fax No.	Phone No.	Firm Fax No.
______________________________________________		____________________________________________
Selling Broker’s E-mail Address		Listing Broker’s E-mail Address

Form 21			©Copyright 2011
Residential Purchase & Sale Agreement		Northwest Multiple Listing Service
Rev. 8/11	RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT		ALL RIGHTS RESERVED
Page 2 of 5	RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT
		GENERAL TERMS
		Continued
a. Purchase Price. Buyer shall pay to Seller the Purchase Price, including the Earnest Money, in cash at Closing, unless				1
otherwise specified in this Agreement. Buyer represents that Buyer has sufficient funds to close this sale in accordance				2
with this Agreement and is not relying on any contingent source of funds, including funds from loans, the sale of other				3
property, gifts, retirement, or future earnings, except to the extent otherwise specified in this Agreement.				4
b. Earnest Money. Buyer shall deliver the Earnest Money within 2 days after mutual acceptance of this Agreement to				5
Selling Broker who will deposit any check to be held by Selling Firm, or deliver any Earnest Money to be held by Closing				6
Agent, within 3 days of receipt or mutual acceptance, whichever occurs later. If the Earnest Money is held by Selling				7
Firm and is over $10,000.00 it shall be deposited into an interest bearing trust account in Selling Firm’s name provided				8

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

Buyer shall reimburse Selling Firm for bank charges and fees in excess of the interest earned, if any. If the Earnest	10
Money held by Selling Firm is over $10,000.00 Buyer has the option to require Selling Firm to deposit the Earnest	11
Money into the Housing Trust Fund Account, with the interest paid to the State Treasurer, if both Seller and Buyer so	12
agree in writing. If the Buyer does not complete an IRS Form W-9 before Selling Firm must deposit the Earnest Money	13

or the Earnest Money is $10,000.00 or less, the Earnest Money shall be deposited into the Housing Trust Fund 14

Account. Selling Firm may transfer the Earnest Money to Closing Agent at Closing. If all or part of the Earnest Money is	15
to be refunded to Buyer and any such costs remain unpaid, the Selling Firm or Closing Agent may deduct and pay them	16
therefrom. The parties instruct Closing Agent to provide written verification of receipt of the Earnest Money and notice of	17
dishonor of any check to the parties and Brokers at the addresses and/or fax numbers provided herein.	18
Upon termination of this Agreement, a party or the Closing Agent may deliver a form authorizing the release of Earnest	19

Money to the other party or the parties. The party(s) shall execute such form and deliver the same to the Closing Agent. 20

If either party fails to execute the release form, the other party may make a written demand to the Closing Agent for the	21
Earnest Money. If only one party makes such a demand, Closing Agent shall promptly deliver notice of the demand to	22
the other party. If the other party does not object to the demand within 10 days of Closing Agent’s notice, Closing Agent	23

shall disburse the Earnest Money to the party making the demand. If Closing Agent complies with the preceding 24

process, each party shall be deemed to have released Closing Agent from any and all claims or liability related to the	25
disbursal of the Earnest Money. The parties are advised that, notwithstanding the foregoing, Closing Agent may require	26
the parties to execute a separate agreement before disbursing the Earnest Money. If either party fails to authorize the	27
release of the Earnest Money to the other party when required to do so under this Agreement, that party shall be in	28

breach of this Agreement. Upon either party’s request, the party holding the Earnest Money shall commence an 29

interpleader action in the county in which the Property is located. For the purposes of this paragraph, the term Closing	30
Agent includes a Selling Firm holding the Earnest Money. The parties authorize the party commencing an interpleader	31
action to deduct up to $500.00 for the costs thereof.	32

c.Included Items. Any of the following items, including items identified in Specific Term No. 5 if the corresponding box is 33 checked, located in or on the Property are included in the sale: built-in appliances; wall-to-wall carpeting; curtains, 34 drapes and all other window treatments; window and door screens; awnings; storm doors and windows; installed 35 television antennas; ventilating, air conditioning and heating fixtures; trash compactor; fireplace doors, gas logs and gas 36 log lighters; irrigation fixtures; electric garage door openers and remotes; water heaters; installed electrical fixtures; 37

lighting fixtures; shrubs, plants and trees planted in the ground; all bathroom and other fixtures; and all associated	38
operating equipment. If any of the above Included Items are leased or encumbered, Seller shall acquire and clear title at	39
or before Closing.	40

d.Condition of Title. Unless otherwise specified in this Agreement, title to the Property shall be marketable at Closing. 41 The following shall not cause the title to be unmarketable: rights, reservations, covenants, conditions and restrictions, 42 presently of record and general to the area; easements and encroachments, not materially affecting the value of or 43 unduly interfering with Buyer’s reasonable use of the Property; and reserved oil and/or mining rights. Monetary 44 encumbrances or liens not assumed by Buyer, shall be paid or discharged by Seller on or before Closing. Title shall be 45

conveyed by a Statutory Warranty Deed. If this Agreement is for conveyance of a buyer’s interest in a Real Estate	46
Contract, the Statutory Warranty Deed shall include a buyer’s assignment of the contract sufficient to convey after	47
acquired title.	48

e.Title Insurance. Seller authorizes Buyer’s lender or Closing Agent, at Seller’s expense, to apply for the then-current 49 ALTA form of Homeowner’s Policy of Title Insurance for One-to-Four Family Residence, from the Title Insurance 50 Company. If Seller previously received a preliminary commitment from a Title Insurance Company that Buyer declines 51 to use, Buyer shall pay any cancellation fees owing to the original Title Insurance Company. Otherwise, the party 52 applying for title insurance shall pay any title cancellation fee, in the event such a fee is assessed. If the Title Insurance 53 Company selected by the parties will not issue a Homeowner’s Policy for the Property, the parties agree that the Title 54 Insurance Company shall instead issue the then-current ALTA standard form Owner’s Policy, together with 55 homeowner’s additional protection and inflation protection endorsements, if available. The Title Insurance Company 56 shall send a copy of the preliminary commitment to Seller, Listing Broker, Buyer and Selling Broker. The preliminary 57 commitment, and the title policy to be issued, shall contain no exceptions other than the General Exclusions and 58 Exceptions in the Policy and Special Exceptions consistent with the Condition of Title herein provided. If title cannot be 59

Initials: BUYER: _________________	Date: _____________	SELLER: ________________	Date: ___________
BUYER: _________________	Date: _____________	SELLER: ________________	Date: ___________

Form 21			©Copyright 2011
Residential Purchase & Sale Agreement		Northwest Multiple Listing Service
Rev. 8/11	RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT		ALL RIGHTS RESERVED
Page 3 of 5	RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT
	GENERAL TERMS
	Continued
made so insurable prior to the Closing Date, then as Buyer’s sole and exclusive remedy, the Earnest Money shall,				60
unless Buyer elects to waive such defects or encumbrances, be refunded to the Buyer, less any unpaid costs described				61
in this Agreement, and this Agreement shall thereupon be terminated. Buyer shall have no right to specific performance				62
or damages as a consequence of Seller’s inability to provide insurable title.				63

f.Closing and Possession. This sale shall be closed by the Closing Agent on the Closing Date. If the Closing Date falls 64 on a Saturday, Sunday, legal holiday as defined in RCW 1.16.050, or day when the county recording office is closed, 65 the Closing Agent shall close the transaction on the next day that is not a Saturday, Sunday, legal holiday, or day when 66 the county recording office is closed. “Closing” means the date on which all documents are recorded and the sale 67 proceeds are available to Seller. Seller shall deliver keys and garage door remotes to Buyer on the Closing Date or on 68 the Possession Date, whichever occurs first. Buyer shall be entitled to possession at 9:00 p.m. on the Possession Date. 69 Seller shall maintain the Property in its present condition, normal wear and tear excepted, until the Buyer is entitled to 70 possession. If possession transfers at a time other than Closing, the parties agree to execute NWMLS Form 65A 71

(Rental Agreement/Occupancy Prior to Closing) or NWMLS Form 65B (Rental Agreement/Seller Occupancy After	72
Closing) (or alternative rental agreements) and are advised of the need to contact their respective insurance companies	73
to assure appropriate hazard and liability insurance policies are in place, as applicable.	74

g.Section 1031 Like-Kind Exchange. If either Buyer or Seller intends for this transaction to be a part of a Section 1031 75 like-kind exchange, then the other party shall cooperate in the completion of the like-kind exchange so long as the 76 cooperating party incurs no additional liability in doing so, and so long as any expenses (including attorneys’ fees and 77 costs) incurred by the cooperating party that are related only to the exchange are paid or reimbursed to the cooperating 78

party at or prior to Closing. Notwithstanding the Assignment paragraph of this Agreement, any party completing a	79
Section 1031 like-kind exchange may assign this Agreement to its qualified intermediary or any entity set up for the	80
purposes of completing a reverse exchange.	81

h.Closing Costs and Prorations and Charges and Assessments. Seller and Buyer shall each pay one-half of the 82 escrow fee unless otherwise required by applicable FHA or VA regulations. Taxes for the current year, rent, interest, 83 and lienable homeowner’s association dues shall be prorated as of Closing. Buyer shall pay Buyer’s loan costs, 84 including credit report, appraisal charge and lender’s title insurance, unless provided otherwise in this Agreement. If any 85 payments are delinquent on encumbrances which will remain after Closing, Closing Agent is instructed to pay such 86 delinquencies at Closing from money due, or to be paid by, Seller. Buyer shall pay for remaining fuel in the fuel tank if, 87 prior to Closing, Seller obtains a written statement as to the quantity and current price from the supplier. Seller shall pay 88 all utility charges, including unbilled charges. Unless waived in Specific Term No. 14, Seller and Buyer request the 89

services of Closing Agent in disbursing funds necessary to satisfy unpaid utility charges in accordance with RCW 60.80	90
and Seller shall provide the names and addresses of all utilities providing service to the Property and having lien rights	91
(attach NWMLS Form 22K Identification of Utilities or equivalent).	92
Buyer is advised to verify the existence and amount of any local improvement district, capacity or impact charges or	93
other assessments that may be charged against the Property before or after Closing. Seller will pay such charges that	94
are encumbrances at the time of Closing, or that are or become due on or before Closing. Charges levied before	95
Closing, but becoming due after Closing shall be paid as agreed in Specific Term No. 15.	96

i.Sale Information. Listing Broker and Selling Broker are authorized to report this Agreement (including price and all 97

terms) to the Multiple Listing Service that published it and to its members, financing institutions, appraisers, and anyone	98
else related to this sale. Buyer and Seller expressly authorize all Closing Agents, appraisers, title insurance companies,	99

and others related to this Sale, to furnish the Listing Broker and/or Selling Broker, on request, any and all information 100

and copies of documents concerning this sale.

101

j.FIRPTA - Tax Withholding at Closing. The Closing Agent is instructed to prepare a certification (NWMLS Form 22E or 102

equivalent) that Seller is not a “foreign person” within the meaning of the Foreign Investment In Real Property Tax Act. 103 Seller shall sign this certification. If Seller is a foreign person, and this transaction is not otherwise exempt from FIRPTA, 104

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

105

k.Notices. In consideration of the license to use this and NWMLS's companion forms and for the benefit of the Listing 106 Broker and the Selling Broker as well as the orderly administration of the offer, counteroffer or this Agreement, the 107 parties irrevocably agree that unless otherwise specified in this Agreement, any notice required or permitted in, or 108 related to, this Agreement (including revocations of offers or counteroffers) must be in writing. Notices to Seller must be 109 signed by at least one Buyer and shall be deemed given only when the notice is received by Seller, by Listing Broker or 110 at the licensed office of Listing Broker. Notices to Buyer must be signed by at least one Seller and shall be deemed 111 given only when the notice is received by Buyer, by Selling Broker or at the licensed office of Selling Broker. Receipt by 112 Selling Broker of a Form 17, Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards, Public 113 Offering Statement or Resale Certificate, homeowners’ association documents provided pursuant to NWMLS Form 114 22D, or a preliminary commitment for title insurance provided pursuant to NWMLS Form 22T shall be deemed receipt 115 by Buyer. Selling Broker and Listing Broker have no responsibility to advise of receipt of a notice beyond either phoning 116 the party or causing a copy of the notice to be delivered to the party's address shown on this Agreement. Buyer and 117

Initials: BUYER: _________________	Date: _____________	SELLER: ________________	Date: ___________
BUYER: _________________	Date: _____________	SELLER: ________________	Date: ___________

Form 21			©Copyright 2011
Residential Purchase & Sale Agreement		Northwest Multiple Listing Service
Rev. 8/11	RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT		ALL RIGHTS RESERVED
Page 4 of 5	RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT
		GENERAL TERMS

Continued

Seller must keep Selling Broker and Listing Broker advised of their whereabouts in order to receive prompt notification 118

of receipt of a notice.

119

l.Computation of Time. Unless otherwise specified in this Agreement, any period of time measured in days and stated 120 in this Agreement shall start on the day following the event commencing the period and shall expire at 9:00 p.m. of the 121 last calendar day of the specified period of time. Except for the Possession Date, if the last day is a Saturday, Sunday 122 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 123 Saturday, Sunday or legal holiday. Any specified period of 5 days or less shall not include Saturdays, Sundays or legal 124 holidays. If the parties agree that an event will occur on a specific calendar date, the event shall occur on that date, 125 except for the Closing Date, which, if it falls on a Saturday, Sunday, legal holiday as defined in RCW 1.16.050, or day 126 when the county recording office is closed, shall occur on the next day that is not a Saturday, Sunday, legal holiday, or 127 day when the county recording office is closed. If the parties agree upon and attach a legal description after this 128 Agreement is signed by the offeree and delivered to the offeror, then for the purposes of computing time, mutual 129

acceptance shall be deemed to be on the date of delivery of an accepted offer or counteroffer to the offeror, rather than 130

on the date the legal description is attached. Time is of the essence of this Agreement.

131

m.Facsimile and E-mail Transmission. Facsimile transmission of any signed original document, and retransmission of 132 any signed facsimile transmission, shall be the same as delivery of an original. At the request of either party, or the 133

Closing Agent, the parties will confirm facsimile transmitted signatures by signing an original document. E-mail 134 transmission of any document or notice shall not be effective unless the parties to this Agreement otherwise agree in 135

writing.

136

n.Integration and Electronic Signatures. This Agreement constitutes the entire understanding between the parties and 137 supersedes all prior or contemporaneous understandings and representations. No modification of this Agreement shall 138

be effective unless agreed in writing and signed by Buyer and Seller. The parties acknowledge that a signature in 139

electronic form has the same legal effect and validity as a handwritten signature.

140

o.Assignment. Buyer may not assign this Agreement, or Buyer’s rights hereunder, without Seller’s prior written consent, 141 unless the parties indicate that assignment is permitted by the addition of “and/or assigns” on the line identifying the 142

Buyer on the first page of this Agreement.

143

p.Default. In the event Buyer fails, without legal excuse, to complete the purchase of the Property, then the following 144

provision, as identified in Specific Term No. 8, shall apply:

145

i.Forfeiture of Earnest Money. That portion of the Earnest Money that does not exceed five percent (5%) of the 146 Purchase Price shall be forfeited to the Seller as the sole and exclusive remedy available to Seller for such failure. 147

ii.Seller’s Election of Remedies. Seller may, at Seller’s option, (a) keep the Earnest Money as liquidated damages 148 as the sole and exclusive remedy available to Seller for such failure, (b) bring suit against Buyer for Seller’s actual 149

damages, (c) bring suit to specifically enforce this Agreement and recover any incidental damages, or (d) pursue 150

any other rights or remedies available at law or equity.

151

q.Professional Advice and Attorneys’ Fees. Buyer and Seller are advised to seek the counsel of an attorney and a 152 certified public accountant to review the terms of this Agreement. Buyer and Seller agree to pay their own fees incurred 153

for such review. However, if Buyer or Seller institutes suit against the other concerning this Agreement the prevailing 154

party is entitled to reasonable attorneys’ fees and expenses.

155

r.Offer. Buyer shall purchase the Property under the terms and conditions of this Agreement. Seller shall have until 9:00 156 p.m. on the Offer Expiration Date to accept this offer, unless sooner withdrawn. Acceptance shall not be effective until a 157

signed copy is received by Buyer, by Selling Broker or at the licensed office of Selling Broker. If this offer is not so 158

accepted, it shall lapse and any Earnest Money shall be refunded to Buyer.

159

s.Counteroffer. Any change in the terms presented in an offer or counteroffer, other than the insertion of the Seller’s 160 name, shall be considered a counteroffer. If a party makes a counteroffer, then the other party shall have until 9:00 p.m. 161 on the counteroffer expiration date to accept that counteroffer, unless sooner withdrawn. Acceptance shall not be 162

effective until a signed copy is received by Seller, by Listing Broker or at the licensed office of Listing Broker. If the 163

counteroffer is not so accepted, it shall lapse and any Earnest Money shall be refunded to Buyer.

164

t.Offer and Counteroffer Expiration Date. If no expiration date is specified for an offer/counteroffer, the 165

offer/counteroffer shall expire 2 days after the offer/counteroffer is delivered by the party making the offer/counteroffer, 166

unless sooner withdrawn.

167

u.Agency Disclosure. Selling Firm, Selling Firm’s Designated Broker, Selling Broker’s Branch Manager (if any) and 168 Selling Broker’s Managing Broker (if any) represent the same party that Selling Broker represents. Listing Firm, Listing 169 Firm’s Designated Broker, Listing Broker’s Branch Manager (if any), and Listing Broker’s Managing Broker (if any) 170 represent the same party that the Listing Broker represents. If Selling Broker and Listing Broker are different persons 171 affiliated with the same Firm, then both Buyer and Seller confirm their consent to Designated Broker, Branch Manager 172

Initials: BUYER: _________________	Date: _____________	SELLER: ________________	Date: ___________
BUYER: _________________	Date: _____________	SELLER: ________________	Date: ___________

Form 21			©Copyright 2011
Residential Purchase & Sale Agreement		Northwest Multiple Listing Service
Rev. 8/11	RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT		ALL RIGHTS RESERVED
Page 5 of 5	RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT
		GENERAL TERMS

Continued

(if any), and Managing Broker (if any) representing both parties as dual agents. If Selling Broker and Listing Broker are 173 the same person representing both parties then both Buyer and Seller confirm their consent to that person and his/her 174 Designated Broker, Branch Manager (if any), and Managing Broker (if any) representing both parties as dual agents. All 175

parties acknowledge receipt of the pamphlet entitled “The Law of Real Estate Agency.”

176

v.Commission. Seller and Buyer agree to pay a commission in accordance with any listing or commission agreement to 177 which they are a party. The Listing Firm’s commission shall be apportioned between Listing Firm and Selling Firm as 178 specified in the listing. Seller and Buyer hereby consent to Listing Firm or Selling Firm receiving compensation from 179 more than one party. Seller and Buyer hereby assign to Listing Firm and Selling Firm, as applicable, a portion of their 180 funds in escrow equal to such commission(s) and irrevocably instruct the Closing Agent to disburse the commission(s) 181 directly to the Firm(s). In any action by Listing or Selling Firm to enforce this paragraph, the prevailing party is entitled to 182

court costs and reasonable attorneys’ fees. Seller and Buyer agree that the Firms are intended third party beneficiaries 183

under this Agreement.

184

w.Cancellation Rights/Lead-Based Paint. If a residential dwelling was built on the Property prior to 1978, and Buyer 185

receives a Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards (NWMLS Form 22J) after 186

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

187

x.Information Verification Period and Property Condition Disclaimer. Buyer shall have 10 days after mutual 188 acceptance to verify all information provided from Seller or Listing Firm related to the Property. This contingency shall 189 be deemed satisfied unless Buyer gives notice identifying the materially inaccurate information within 10 days of mutual 190 acceptance. If Buyer gives timely notice under this section, then this Agreement shall terminate and the Earnest Money 191 shall be refunded to Buyer. Buyer and Seller agree, that except as provided in this Agreement, all representations and 192 information regarding the Property and the transaction are solely from the Seller or Buyer, and not from any Broker. The 193 parties acknowledge that the Brokers are not responsible for assuring that the parties perform their obligations under 194 this Agreement and that none of the Brokers has agreed to independently investigate or confirm any matter related to 195 this transaction except as stated in this Agreement, or in a separate writing signed by such Broker. In addition, Brokers 196 do not guarantee the value, quality or condition of the Property and some properties may contain building materials, 197 including siding, roofing, ceiling, insulation, electrical, and plumbing, that have been the subject of lawsuits and/or 198 governmental inquiry because of possible defects or health hazards. Some properties may have other defects arising 199 after construction, such as drainage, leakage, pest, rot and mold problems. Brokers do not have the expertise to identify 200 or assess defective products, materials, or conditions. Buyer is urged to use due diligence to inspect the Property to 201 Buyer’s satisfaction and to retain inspectors qualified to identify the presence of defective materials and evaluate the 202 condition of the Property as there may be defects that may only be revealed by careful inspection. Buyer and Seller 203 acknowledge that home protection plans may be available which may provide additional protection and benefit to Buyer 204 and Seller. Brokers may assist the parties with locating and selecting third party service providers, such as inspectors or 205

contractors, but Brokers cannot guarantee or be responsible for the services provided by those third parties. The parties 206

agree to exercise their own judgment and due diligence regarding third-party service providers.

207

Initials: BUYER: _________________	Date: _____________	SELLER: ________________	Date: ___________
BUYER: _________________	Date: _____________	SELLER: ________________	Date: ___________

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Form Information

Fact Name	Description
Form Purpose	The NWMLS 21 form serves as a Residential Purchase and Sale Agreement for real estate transactions in Washington State.
Governing Law	This form is governed by the laws of Washington State, specifically under the Revised Code of Washington (RCW).
Earnest Money	Earnest money must be delivered within two days after mutual acceptance and is typically held by the Selling Firm or Closing Agent.
Included Items	The form allows buyers to specify included items, such as appliances and fixtures, which are part of the sale.
Closing Date	The Closing Date is the date on which all documents are recorded and the sale proceeds are made available to the seller.
Possession Date	Buyers can specify when they will take possession of the property, either on the Closing Date or another agreed-upon date.
Default Options	In the event of default, the form provides options for forfeiture of earnest money or seller’s election of remedies.
Disclosure Requirements	Buyers must receive disclosures related to lead-based paint if the property was built before 1978, allowing for a three-day rescission period.

Detailed Guide for Filling Out Nwmls 21

Filling out the NWMLS 21 form requires attention to detail and accuracy. Each section of the form must be completed thoroughly to ensure that all necessary information is captured. This form is essential in the process of purchasing a residential property, and it sets the foundation for the agreement between the buyer and seller. Below are the steps to guide you through filling out the form correctly.

Date and MLS Number: Write the current date and the MLS number at the top of the form.
Buyer Information: Fill in the full name of the buyer(s) in the designated area.
Seller Information: Provide the full name of the seller(s) in the specified section.
Property Details: Enter the tax parcel number(s) and the county where the property is located. Include the street address and legal description as attached.
Included Items: Check the boxes for items included in the sale, such as appliances and fixtures, and specify any other items in the space provided.
Purchase Price: State the total purchase price of the property clearly.
Earnest Money: Indicate the amount of earnest money and specify whether it will be held by the selling firm or closing agent. Provide details about the payment method.
Default Options: Select one option regarding default, either forfeiture of earnest money or seller’s election of remedies.
Title Insurance Company: Write the name of the title insurance company.
Closing Agent: Specify the closing agent, indicating if it is the buyer’s choice or provide the name of the agent.
Closing Date: Enter the anticipated closing date.
Possession Date: Choose whether possession will occur on closing or at a different time, and specify that time if applicable.
Offer Expiration Date: Provide the date by which the offer will expire.
Utilities: Indicate whether the services of the closing agent for payment of utilities are requested or waived.
Charges and Assessments: Specify who will assume charges and assessments due after closing.
Agency Disclosure: Indicate the representation of the selling and listing brokers.
Addenda: If there are any additional documents or addenda, list them in the space provided.
Signatures: Ensure all buyers and sellers sign and date the form. Include their addresses, phone numbers, and email addresses.
Broker Information: Fill in the details for the selling firm and listing firm, including their assumed names, if applicable, and contact information.

Once the form is completed, it should be reviewed for accuracy and completeness. All parties involved should ensure that they understand the terms outlined in the agreement before proceeding further in the real estate transaction. Proper completion of the NWMLS 21 form facilitates a smoother process in purchasing the property.

Obtain Answers on Nwmls 21

What is the purpose of the NWMLS Form 21?
The NWMLS Form 21 is a Residential Purchase and Sale Agreement used in Washington State for real estate transactions. It outlines the specific terms and conditions under which a buyer agrees to purchase a property from a seller. This form includes essential details such as the purchase price, earnest money, included items, closing date, and agency disclosures.
What information is required to complete the NWMLS Form 21?
To fill out the NWMLS Form 21, several key pieces of information must be provided:
- Date of the agreement
- MLS number
- Names of the buyer and seller
- Property details, including tax parcel number and street address
- Purchase price and earnest money details
- Closing and possession dates
- Agency representation information
Additionally, any included items, such as appliances or fixtures, must be clearly indicated.
What happens if the buyer fails to complete the purchase?
If the buyer does not complete the purchase without a legal excuse, the seller has options outlined in the agreement. The seller can choose to keep the earnest money as liquidated damages, pursue actual damages through legal action, or seek specific performance of the agreement. The specific terms regarding this situation are detailed in Section 8 of the form.
How is earnest money handled in the NWMLS Form 21?
Earnest money is a deposit made by the buyer to demonstrate their commitment to the purchase. The buyer must deliver the earnest money within two days after both parties accept the agreement. If the earnest money is over $10,000, it must be held in an interest-bearing account. The form specifies how the earnest money will be disbursed in the event of a transaction termination or if there are disputes regarding its release.

Common mistakes

Filling out the NWMLS 21 form can be a straightforward process, but mistakes can lead to complications. Here are ten common errors to avoid.

One frequent mistake is leaving the date and MLS number fields blank. These details are essential for tracking the agreement and ensuring all parties are on the same page. Always double-check these sections to confirm they are filled out accurately.

Another error occurs when buyers or sellers forget to include their full names. This can lead to confusion and potential legal issues. Ensure that all names are written clearly and completely, as they appear on legal documents.

Many people overlook the property description. Providing an incomplete or inaccurate description can create disputes later. Take the time to include the correct tax parcel number and legal description as required.

Failing to specify the purchase price is a common oversight. This figure must be clearly stated to avoid misunderstandings. Make sure to double-check the amount before submitting the form.

Another mistake is not indicating how the earnest money will be held. This section is crucial for establishing trust between the buyer and seller. Specify whether it will be held by the selling firm or the closing agent.

Some individuals neglect to check the appropriate box for default remedies. This choice is significant and should reflect the agreement of both parties. Carefully consider the implications of each option before making a selection.

Buyers often forget to fill in the closing agent information. This detail is vital for ensuring a smooth transaction. If unsure, consult with your broker or agent to identify a qualified closing agent.

Another common error involves the closing date. Not specifying this date can lead to delays and confusion. Clearly state the intended closing date to keep the process on track.

Some people forget to include the offer expiration date. This date is crucial for defining the timeframe in which the seller can accept the offer. Make sure to set a realistic expiration date to avoid unnecessary delays.

Finally, neglecting to sign and date the form can render the agreement invalid. All parties must provide their signatures and dates in the designated areas. This step is essential for finalizing the agreement.

By avoiding these common mistakes, you can help ensure a smoother transaction process. Take the time to review the NWMLS 21 form carefully before submission.

Documents used along the form

The NWMLS 21 form is a crucial document in the residential real estate transaction process. It serves as the Purchase and Sale Agreement, outlining the terms agreed upon by the buyer and seller. Along with this form, several other documents are commonly used to ensure a smooth transaction. Below is a list of these forms, each with a brief description.

Nwmls Form 22K: This form is used to request the services of the closing agent for the payment of utilities. It outlines whether the buyer wants these services and any necessary details regarding utility payments.
Nwmls Form 22E: This certification is used to comply with the Foreign Investment in Real Property Tax Act (FIRPTA). It certifies whether the seller is a foreign person and outlines any required tax withholding at closing.
Nwmls Form 22D: This document provides essential homeowners’ association (HOA) documents. It includes disclosures about the HOA, fees, and any regulations that may affect the property.
Nwmls Form 22T: This form is a preliminary commitment for title insurance. It outlines the terms of the title insurance policy and ensures that the buyer will receive clear title to the property.
Nwmls Form 65A: This rental agreement is used when the buyer occupies the property before closing. It outlines the terms of occupancy and any rental payments due to the seller.
Nwmls Form 65B: Similar to Form 65A, this agreement is used when the seller remains in the property after closing. It details the terms of the seller’s occupancy and rental obligations.
IRS Form W-9: This form is necessary for tax purposes. It provides the buyer's taxpayer identification number and is required for the proper handling of earnest money deposits over a certain amount.
Lead-Based Paint Disclosure (Form 22J): Required for properties built before 1978, this form informs buyers of potential lead-based paint hazards. It allows buyers to rescind the agreement within three days if they receive this disclosure after acceptance.

These documents work in tandem with the NWMLS 21 form to facilitate a successful real estate transaction. It is essential to understand each form's purpose and ensure that all necessary paperwork is completed accurately and timely. Proper documentation can help prevent misunderstandings and protect the interests of both buyers and sellers.

Similar forms

Residential Lease Agreement: Similar to the Nwmls 21 form, this document outlines the terms of renting a residential property. It includes details about the parties involved, the property address, payment terms, and responsibilities of both landlord and tenant.
Purchase Agreement: This document serves as a formal agreement between a buyer and seller for the sale of a property. It includes the purchase price, contingencies, and timelines, much like the Nwmls 21 form.
Real Estate Listing Agreement: This agreement is between a property owner and a real estate agent. It details the terms under which the agent will market the property, similar to how the Nwmls 21 form outlines the sale terms.
Offer to Purchase: This document is a proposal made by a potential buyer to purchase a property. It includes the offer price and conditions, akin to the initial offer details in the Nwmls 21 form.
Counteroffer Form: When a seller responds to an offer with changes, this document captures those modifications. It parallels the negotiation aspects found in the Nwmls 21 form.
Closing Disclosure: This document provides a detailed account of the closing costs associated with a real estate transaction. It shares similarities with the financial disclosures in the Nwmls 21 form.
Title Insurance Policy: This document protects against potential defects in the title of the property. It is related to the title insurance provisions outlined in the Nwmls 21 form.

Dos and Don'ts

When filling out the NWMLS 21 form, it is essential to approach the task with care and attention to detail. Here is a list of things you should and shouldn't do to ensure the process goes smoothly.

Do read the entire form carefully before starting. Understanding each section will help you provide accurate information.
Don't leave any required fields blank. Incomplete forms can lead to delays or complications in the transaction.
Do double-check the spelling of names and addresses. Accuracy is crucial in legal documents.
Don't use abbreviations or shorthand. Write out terms fully to avoid confusion.
Do ensure that all parties involved sign the document where indicated. Signatures are necessary for the agreement to be valid.
Don't forget to date the signatures. The date is essential for establishing timelines within the agreement.
Do keep a copy of the completed form for your records. This will be helpful for future reference.
Don't rush through the form. Take your time to ensure that all information is accurate and complete.

Misconceptions

Understanding the Nwmls 21 form is crucial for anyone involved in a real estate transaction. However, several misconceptions can lead to confusion. Below is a list of common misunderstandings about this form, along with clarifications.

Misconception 1: The Nwmls 21 form is only for buyers.

This form is designed for both buyers and sellers. It outlines the terms of the sale, ensuring that both parties are on the same page.

Misconception 2: Earnest money is non-refundable.

While earnest money can be forfeited if the buyer defaults, it is generally refundable if the transaction does not close due to specific contingencies outlined in the agreement.

Misconception 3: The form guarantees a successful sale.

The Nwmls 21 form lays out the terms of the agreement but does not guarantee that the sale will go through. Various factors can affect the outcome.

Misconception 4: All included items are automatically part of the sale.

Only items specifically checked in the "Included Items" section are included in the sale. Buyers should verify what is included.

Misconception 5: The closing date is flexible and can be changed easily.

The closing date is a critical term in the agreement. Any changes typically require mutual consent from both parties.

Misconception 6: The form does not address property condition.

The Nwmls 21 form includes provisions for property condition and allows buyers to verify information about the property within a specified period.

Misconception 7: Buyers can ignore the agency disclosure section.

This section is important as it clarifies the relationships between the parties involved. Understanding who represents whom is crucial for informed decision-making.

Misconception 8: The form is only for residential properties.

While it is primarily used for residential transactions, the principles outlined can also apply to certain types of commercial transactions.

Misconception 9: Once signed, the terms cannot be changed.

Terms can be modified if both parties agree in writing. Communication is key to ensuring that all parties are satisfied.

Misconception 10: The Nwmls 21 form is the only document needed for a transaction.

While it is a significant document, additional forms and disclosures may be necessary to comply with local laws and regulations.

Being aware of these misconceptions can help both buyers and sellers navigate the real estate process more effectively. Clear communication and understanding of the Nwmls 21 form are essential for a successful transaction.

Key takeaways

When filling out and using the NWMLS 21 form, it is essential to consider the following key points:

Accurate Information: Ensure all details, including names, addresses, and property descriptions, are filled out accurately to avoid any future disputes.
Earnest Money: The form outlines the earnest money amount and its handling. Be aware of the timelines for submission and the conditions under which it may be forfeited.
Included Items: Clearly specify which items are included in the sale. Check the appropriate boxes to avoid misunderstandings later.
Closing Date: Set a realistic closing date. Consider any potential delays that could arise during the closing process.
Possession Date: Specify when the buyer will take possession of the property. This can be at closing or another agreed-upon date.
Default Terms: Understand the implications of default, including the potential forfeiture of earnest money or seller’s election of remedies.
Title Insurance: The form requires the designation of a title insurance company. This protects the buyer against potential title issues.
Agency Disclosure: Be clear about who represents whom in the transaction. This includes understanding dual agency situations.
Legal Review: It is advisable for both parties to seek legal counsel to review the agreement before signing to ensure all terms are understood.
Contingencies: Identify any contingencies, such as inspections or financing, and ensure they are clearly stated in the agreement.

By adhering to these key takeaways, you can navigate the NWMLS 21 form more effectively and help ensure a smoother transaction process.