S5391.1 by Senator Kauffman — HB 2624 - S COMM AMD, Business, Trade & Economic Development

Summary

This is 2624 AMS BTE S5391.1, by Senator Kauffman, to HB 2624, offered by the Committee on Business, Trade & Economic Development. It strikes everything after the enacting clause and inserts new text. Section 1 states legislative findings that the additional protections are not necessary when an unsolicited offer to purchase is made by government agencies or nonprofit land conservancies. Section 2 amends RCW 61.40.010 to give the owner of solicited real property the right to an appraisal by a licensed appraiser and a right to cancel the purchase contract.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

     2624 AMS BTE S5391.1                                            By Senator Kauffman
                                                                     [C]

     HB 2624 - S COMM AMD
         By Committee on Business, Trade & Economic Development




1        Strike   everything   after   the       enacting   clause    and   insert   the
2    following:


 3       "NEW SECTION.   Sec. 1.  The legislature finds that in enacting
 4   chapter 77, Laws of 2025 (SHB 1081), the legislature intended to
 5   provide additional protections to homeowners when they receive an
 6   unsolicited offer to purchase. The legislature finds that these
 7   additional protections are not necessary when such an offer is made
 8   by government agencies or nonprofit land conservancies, which have
 9   different legal standards and appraisal requirements that cannot be
10   reconciled with the requirements of chapter 77, Laws of 2025 (SHB
11   1081).


12       Sec. 2. RCW 61.40.010 and 2025 c 417 s 1306 are each amended to
13   read as follows:
14       (1) For real estate transactions executed on or after January 1,
15   2026, in which a potential buyer or someone representing a potential
16   buyer actively solicits the purchase of real property through public
17   advertising or written, electronic, or in-person contact with an
18   owner of real property that is not currently publicly available or
19   listed on the real estate market for purchase, the owner of the
20   solicited real property shall, upon execution of a purchase contract
21   between the potential buyer and the owner of the solicited real
22   property:
23       (a) Have the right to an appraisal of the real property by an
24   appraiser licensed in accordance with chapter 18.140 RCW, which right
25   shall be expressly included in the purchase contract between the
26   potential buyer and the owner of the solicited real property; and
27       (b) Have the right to cancel the purchase contract without
28   penalty or further obligation subject to subsection (2) of this
29   section.
30       (2)(a) For owners of the solicited real property who wish to
31   exercise their right to an appraisal:

     Code Rev/AF:ajr                         1                              S-5391.1/26
 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


     Code Rev/AF:ajr                   2                       S-5391.1/26
 1   competition for the purpose of applying the consumer protection act,
 2   chapter 19.86 RCW.
 3       (7) This section does not apply to ((any)):
 4       (a) Any public entity including, but not limited to, the
 5   department of transportation, cities, and counties, acquiring real
 6   property for transportation purposes; or
 7       (b) Any public entity, a federally recognized Indian tribe, or a
 8   nonprofit nature conservancy corporation or association as defined in
 9   RCW 84.34.250 acquiring real property for a public benefit with an
10   appraisal prior to the closing of the transaction."


     HB 2624 - S COMM AMD
         By Committee on Business, Trade & Economic Development




11       On page 1, line 3 of the title, after "conservancies;" strike the
12   remainder of the title and insert "amending RCW 61.40.010; and
13   creating a new section."


         EFFECT: Clarifies that the following entities are exempt from the
     law regarding solicited real property transactions: Any public
     entity, a federally recognized Indian tribe, or a nonprofit nature
     conservancy corporation or association acquiring real property for a
     public benefit with an appraisal prior to the closing of the
     transaction.



                                  --- END ---




     Code Rev/AF:ajr                   3                          S-5391.1/26


File and source

File

2026-02-25_a34019_d298937_amd-c-2624-kauffman-s-5391-1.pdf

Size

80,039 bytes

SHA-256

a0f86f0d359470e5c7be051733d7362bf02bf75b4ee4c5735c49408ada612476

Our copy

2026-02-25_a34019_d298937_amd-c-2624-kauffman-s-5391-1.pdf

Original

No public link identified.