Fill in a Valid Nwmls 21 Template

The NWMLS 21 form is a Residential Purchase and Sale Agreement used in real estate transactions within the Northwest Multiple Listing Service. This form outlines the specific terms and general conditions of the sale, including details about the buyer, seller, property, purchase price, and earnest money. Understanding this form is crucial for both buyers and sellers to ensure a smooth transaction process.

To fill out the form, please click the button below.

Content Navigation

The NWMLS Form 21 serves as a crucial document in the realm of real estate transactions, specifically designed for residential purchase and sale agreements. This form outlines key elements of the transaction, including the date of agreement, the identities of the buyer and seller, and the specifics of the property being sold. It also details the purchase price and the earnest money, which demonstrates the buyer's commitment to the purchase. Additionally, the form specifies the responsibilities of both parties regarding closing costs, title insurance, and the condition of the property. Notably, it includes provisions for the transfer of possession and the handling of utilities, ensuring that both parties understand their obligations. The form also addresses potential defaults and remedies, providing clarity on what happens if either party fails to fulfill their commitments. By encompassing these essential aspects, the NWMLS Form 21 facilitates a smoother transaction process, helping to protect the interests of both buyers and sellers in Washington State's real estate market.

Nwmls 21 Example

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: ___________

Click for Nwmls 21 File

File Breakdown

Fact Name	Details
Form Title	Residential Purchase & Sale Agreement
Governing Laws	Washington State Real Estate Laws
Form Version	Rev. 8/11
Included Items	Stove, refrigerator, washer, dryer, dishwasher, hot tub, fireplace insert, wood stove, satellite dish, security system
Earnest Money	Must be delivered within 2 days after mutual acceptance
Default Options	Forfeiture of Earnest Money or Seller’s Election of Remedies
Closing Date	Specified in the agreement, may shift due to holidays
Possession Date	On Closing or as agreed upon
Agency Disclosure	Broker may represent Buyer, Seller, both, or neither
Lead-Based Paint Disclosure	Buyers may rescind the agreement within 3 days if the property was built before 1978

Guide to Using Nwmls 21

Filling out the NWMLS 21 form is a straightforward process that requires attention to detail. This form is essential for documenting the terms of a residential real estate transaction. Make sure you have all the necessary information at hand before you begin. Follow these steps to complete the form accurately.

Date: Write the current date in the designated space.
MLS Number: Fill in the MLS number associated with the property.
Buyer: Enter the names of all buyers in the space provided.
Seller: Enter the names of all sellers in the space provided.
Property Information:
- Tax Parcel Number: Provide the tax parcel number and county.
- Street Address: Write the complete street address of the property.
- Legal Description: Attach the legal description as Exhibit A.
Included Items: Check all items included in the sale, such as appliances and fixtures.
Purchase Price: Enter the total purchase price of the property.
Earnest Money: Specify the amount of earnest money and how it will be held.
Default: Check one option regarding default terms.
Title Insurance Company: Provide the name of the title insurance company.
Closing Agent: Indicate the closing agent or select the buyer's choice.
Closing Date: Write the agreed-upon closing date.
Possession Date: Specify when possession will occur.
Offer Expiration Date: Enter the expiration date for the offer.
Utilities Payment: Check the appropriate box regarding payment of utilities.
Charges and Assessments: Indicate who will be responsible for charges after closing.
Agency Disclosure: Check the appropriate boxes to indicate representation.
Addenda: List any additional documents or agreements related to the transaction.
Signatures: Ensure all buyers and sellers sign and date the form, providing their contact information.

After completing the form, review it carefully for any errors or omissions. Once verified, submit the form to the appropriate parties to proceed with the transaction. This step is crucial for ensuring that all terms are agreed upon and legally binding.

Get Answers on Nwmls 21

What is 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 is essential for formalizing the agreement and ensuring that both parties are clear on their obligations.

What information is required on the NWMLS Form 21?

The form requires several key pieces of information, including:

The date of the agreement
The names of the buyer and seller
The property details, including the tax parcel number and street address
The purchase price and earnest money details
Closing and possession dates

Additionally, it includes sections for included items, agency disclosures, and any addenda that may apply to the transaction.

What is earnest money, and how is it handled?

Earnest money is a deposit made by the buyer to demonstrate their commitment to purchasing the property. According to the NWMLS Form 21, the buyer must deliver the earnest money within two days after mutual acceptance of the agreement. The selling firm or closing agent will hold this money, and it may be applied to the purchase price at closing. If the transaction does not go through due to the buyer's fault, the seller may keep the earnest money as compensation.

What happens if the buyer defaults on the agreement?

If the buyer fails to complete the purchase without a legal excuse, the seller has two options as outlined in the form:

Forfeiture of Earnest Money: The seller may keep the earnest money as liquidated damages.
Seller’s Election of Remedies: The seller can choose to pursue legal action for damages or seek specific performance of the agreement.

This provision helps protect the seller's interests in case of a buyer default.

What is included in the sale?

The NWMLS Form 21 allows buyers and sellers to specify which items are included in the sale of the property. Commonly included items may range from appliances like stoves and refrigerators to fixtures such as lighting and window treatments. It's crucial for both parties to agree on what is included to avoid disputes later on.

How are closing costs handled?

Closing costs are typically shared between the buyer and seller, with each party responsible for half of the escrow fee unless otherwise specified. The buyer is usually responsible for their loan costs, while the seller pays for any outstanding utility charges. It’s advisable for both parties to review these costs carefully to avoid surprises at closing.

What is the importance of title insurance?

Title insurance protects the buyer and lender from potential issues related to the property’s title. The seller is responsible for applying for a title insurance policy at their expense, ensuring that the buyer receives a marketable title. If any title issues arise before closing, the buyer may have the option to withdraw from the agreement and receive a refund of their earnest money.

Can the buyer or seller assign their rights under the agreement?

What should buyers and sellers do before signing the agreement?

Both parties are encouraged to seek professional advice before signing the NWMLS Form 21. Consulting with an attorney or a certified public accountant can provide valuable insights into the terms of the agreement and any potential implications. This step is crucial to ensure that both parties fully understand their rights and obligations.

Common mistakes

Filling out the NWMLS 21 form can be a straightforward process, but there are common mistakes that people often make. Understanding these pitfalls can help ensure that the form is completed accurately and efficiently.

One frequent error is failing to include all necessary signatures. Both buyers and sellers must sign the form, and missing even one signature can delay the process. It’s essential to double-check that all required parties have signed and dated the agreement.

Another mistake is neglecting to specify the closing and possession dates. These dates are critical for both parties to understand when the property will officially change hands. Without clear dates, confusion can arise, leading to potential disputes.

Some individuals also forget to accurately fill in the purchase price and earnest money amounts. This information is vital, as it outlines the financial terms of the agreement. Inaccuracies here can lead to misunderstandings and complications during the closing process.

Additionally, checking the included items box is often overlooked. Buyers should ensure they clearly indicate which items are included in the sale, such as appliances or fixtures. Leaving this section blank can lead to disputes over what is and isn’t included in the sale.

People sometimes make the mistake of not providing complete contact information. It’s important to include accurate phone numbers and email addresses for all parties involved. This ensures that everyone can be reached quickly if any issues arise.

Another common error is misunderstanding the agency disclosure section. Buyers and sellers must accurately identify who their broker represents. Misrepresentations can lead to conflicts of interest and complicate the transaction.

Some individuals also fail to review the terms regarding default. Understanding the consequences of not following through with the agreement is crucial. This knowledge can help prevent disputes later on.

Moreover, neglecting to attach any necessary addenda can be problematic. If there are additional agreements or disclosures relevant to the sale, they should be included with the NWMLS 21 form. Omitting these documents can lead to misunderstandings.

Lastly, not verifying the legal description of the property can create significant issues. It’s essential to ensure that the legal description matches the property being sold. Any discrepancies can cause complications during the closing process.

By being aware of these common mistakes, buyers and sellers can complete the NWMLS 21 form more effectively. Attention to detail is key in real estate transactions, and taking the time to review the form can save everyone involved from potential headaches down the line.

Documents used along the form

The NWMLS 21 form, which serves as the Residential Purchase and Sale Agreement, is often accompanied by several other important documents that facilitate the real estate transaction process. Below is a list of commonly used forms and documents that complement the NWMLS 21 form. Each document plays a crucial role in ensuring clarity and compliance throughout the transaction.

NWMLS Form 22K: This form is used to request the services of a closing agent for the payment of utilities. It outlines whether these services are requested or waived.
NWMLS Form 65A: This is a Rental Agreement for occupancy prior to closing. It details the terms under which the buyer may occupy the property before the closing date.
NWMLS Form 65B: Similar to Form 65A, this document serves as a Rental Agreement for seller occupancy after closing, allowing the seller to remain in the property for a specified period.
NWMLS Form 22E: This certification is prepared by the closing agent to confirm whether the seller is a foreign person under the Foreign Investment In Real Property Tax Act (FIRPTA).
NWMLS Form 22D: This form provides a public offering statement or resale certificate, which discloses information about the property’s condition and any homeowners' association rules.
NWMLS Form 22T: This form is a preliminary commitment for title insurance. It outlines the terms and conditions under which the title insurance will be provided.
IRS Form W-9: This form is used to provide the taxpayer identification number to the closing agent, especially when earnest money is involved and interest may be earned.
Disclosure of Information on Lead-Based Paint: Required for properties built before 1978, this document informs buyers about potential lead-based paint hazards in the property.

These documents are essential for ensuring that all parties involved in the transaction are informed and protected. It is important to review each document carefully to understand its implications and requirements. Proper documentation can help facilitate a smooth closing process and mitigate potential disputes.

Similar forms

Residential Lease Agreement: Similar to the Nwmls 21 form, this document outlines the terms under which a tenant rents a property from a landlord, including payment details, duration, and responsibilities of both parties.
Real Estate Purchase Agreement: This document serves as a formal agreement between a buyer and seller for the purchase of real estate, detailing the purchase price, closing date, and contingencies, much like the Nwmls 21 form.
Offer to Purchase: An initial proposal made by a buyer to purchase a property, which includes terms and conditions similar to those found in the Nwmls 21 form.
Counteroffer Form: This document allows a seller to respond to a buyer’s offer with modified terms, reflecting a negotiation process akin to the offer and acceptance outlined in the Nwmls 21 form.
Earnest Money Agreement: This form specifies the amount of earnest money to be paid and conditions under which it may be forfeited, paralleling the earnest money provisions in the Nwmls 21 form.
Title Insurance Commitment: Similar to the title insurance provisions in the Nwmls 21 form, this document outlines the terms of title insurance coverage for the property being purchased.
Closing Disclosure: This document provides a detailed account of the final closing costs and terms of the transaction, similar to the closing cost provisions in the Nwmls 21 form.
Property Disclosure Statement: This form requires the seller to disclose known issues with the property, akin to the property condition disclaimers included in the Nwmls 21 form.
Lead-Based Paint Disclosure: Required for homes built before 1978, this document informs buyers about potential lead hazards, similar to the cancellation rights related to lead-based paint in the Nwmls 21 form.

Dos and Don'ts

When filling out the NWMLS 21 form, it’s essential to approach the task carefully. Here’s a list of things to do and avoid to ensure a smooth process.

Do read the entire form carefully before filling it out.
Do provide accurate and complete information for all fields.
Do double-check the purchase price and earnest money amounts.
Do ensure that all parties involved sign and date the form.
Do keep copies of the completed form for your records.

Don't leave any required fields blank; incomplete forms can delay the process.
Don't use white-out or make corrections that are not initialed by all parties.
Don't forget to specify the closing date and possession date clearly.
Don't overlook any addenda that may need to be attached to the form.
Don't sign the form without fully understanding all terms and conditions.

Misconceptions

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 protected and understand their obligations.

Misconception 2: Earnest money is non-refundable.

Earnest money can be refunded under certain conditions, such as if the buyer fails to secure financing or if the property does not meet the agreed-upon terms.

Misconception 3: The closing date is set in stone.

While a closing date is specified, it can be adjusted if both parties agree to a new date. Flexibility is often necessary in real estate transactions.

Misconception 4: All included items in the sale are automatically included.

Only items explicitly checked on the form are included in the sale. Buyers should clarify with sellers about any additional items they wish to include.

Misconception 5: The seller is responsible for all closing costs.

Closing costs are typically shared between the buyer and seller, unless otherwise specified in the agreement. Understanding these costs can prevent surprises at closing.

Misconception 6: The Nwmls 21 form is a legally binding contract without negotiation.

This form serves as a starting point for negotiations. Both parties can propose changes before reaching a final agreement.

Misconception 7: Buyers do not need to verify property information.

Buyers are encouraged to verify all information provided about the property. This includes inspections and assessments to ensure the property meets their expectations.

Misconception 8: The Nwmls 21 form does not require legal advice.

It is advisable for both buyers and sellers to seek legal counsel to understand the terms and implications of the agreement fully.

Misconception 9: The Nwmls 21 form is outdated and not relevant.

While this form was revised in 2011, it remains a standard in real estate transactions. It is important to stay informed about any updates or changes in real estate law that may affect its use.

Key takeaways

Complete All Sections: Ensure that every section of the Nwmls 21 form is filled out completely. Missing information can delay the process or lead to misunderstandings.
Understand Earnest Money: Be clear about the earnest money details, including how much is being put down and who will hold it. This amount shows the seller that you are serious about the purchase.
Review Included Items: Carefully check the list of included items, such as appliances or fixtures. If any items are not included in the sale, specify them clearly to avoid confusion later.
Know Your Closing Costs: Be aware of the closing costs and who is responsible for paying them. This can include fees for the closing agent, title insurance, and any other associated costs.