Substitute House Bill 1081 — Consumer Protections for Owners of Solicited Real Estate (Washington, 2025)

Summary

Substitute House Bill 1081 of the State of Washington 69th Legislature, 2025 Regular Session, by House Consumer Protection & Business, read first time February 21, 2025. The bill is an act relating to establishing consumer protections for owners of solicited real estate and adds a new chapter to Title 61 RCW. For real estate transactions executed on or after January 1, 2026, the owner of solicited real property has the right to an appraisal and the right to cancel the purchase contract without penalty or further obligation. An owner who does not wish to receive an appraisal may cancel within 10 business days after execution of the contract. The section does not apply to a buyer or seller represented by a licensed real estate broker.

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Full text

     H-1588.1

                           SUBSTITUTE HOUSE BILL 1081


     State of Washington         69th Legislature       2025 Regular Session

     By House Consumer Protection & Business (originally sponsored by
     Representatives Donaghy, Connors, Ryu, Taylor, Fosse, Kloba, and
     Reeves)

     READ FIRST TIME 02/21/25.




 1       AN ACT Relating to establishing consumer protections for owners
 2   of solicited real estate; and adding a new chapter to Title 61 RCW.


 3   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:


 4       NEW SECTION. Sec. 1. (1) For real estate transactions executed
 5   on or after January 1, 2026, in which a potential buyer or someone
 6   representing a potential buyer actively solicits the purchase of real
 7   property through public advertising or written, electronic, or in-
 8   person contact with an owner of real property that is not currently
 9   publicly available or listed on the real estate market for purchase,
10   the owner of the solicited real property shall, upon execution of a
11   purchase contract between the potential buyer and the owner of the
12   solicited real property:
13       (a) Have the right to an appraisal of the real property by an
14   appraiser licensed in accordance with chapter 18.140 RCW, which right
15   shall be expressly included in the purchase contract between the
16   potential buyer and the owner of the solicited real property; and
17       (b) Have the right to cancel the purchase contract without
18   penalty or further obligation subject to subsection (2) of this
19   section.
20       (2)(a) For owners of the solicited real property who wish to
21   exercise their right to an appraisal:
                                       p. 1                         SHB 1081
 1       (i) The owner has the right to select the appraiser, and the
 2   potential buyer is responsible for the expense of the appraisal;
 3       (ii) The appraisal must be ordered within three business days
 4   after the execution of the purchase contract, and the owner of the
 5   solicited real property shall notify the potential buyer of the
 6   appraisal; and
 7       (iii) The owner of the solicited real property has the right to
 8   cancel the purchase contract, without penalty or further obligation,
 9   within four business days after the appraisal is received.
10       (b) For owners of solicited real property who do not wish to
11   receive an appraisal, the owner has the right to cancel the purchase
12   contract without penalty or further obligation within 10 business
13   days after execution of the contract.
14       (c) In the event of cancellation, the owner of the solicited real
15   property shall send a notice of cancellation to the buyer by mail,
16   telegram, email, or other means of written communication. Notice of
17   cancellation is considered given when mailed, when filed for
18   telegraphic transmission, when emailed, or, if sent by other means,
19   when delivered to the buyer's designated place of business.
20        (3) The purchase contract for a real estate transaction described
21   in this section must state clearly in at least size 10-point boldface
22   type, and the seller must affirmatively acknowledge in writing, that
23   the seller:
24        (a) Has a right to an appraisal as specified in subsection (2) of
25   this section; and
26        (b) Has a right to cancel the purchase contract without penalty
27   or further obligation in accordance with subsection (2) of this
28   section.
29        (4) This section does not apply to a buyer or seller represented
30   by a real estate broker licensed in accordance with chapter 18.85
31   RCW.
32       (5) Nothing in this chapter affects the rights accruing to any
33   party as set forth in RCW 64.04.220.
34       (6) The legislature finds that the practices covered by this
35   section are matters vitally affecting the public interest for the
36   purpose of applying the consumer protection act, chapter 19.86 RCW. A
37   violation of this section is not reasonable in relation to the
38   development and preservation of business and is an unfair or
39   deceptive act in trade or commerce and an unfair method of


                                     p. 2                         SHB 1081
1   competition for the purpose of applying the consumer protection act,
2   chapter 19.86 RCW.


3       NEW SECTION.   Sec. 2.   Section 1 of this act constitutes a new
4   chapter in Title 61 RCW.

                                 --- END ---




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