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Fill in Your Nwmls 21 Template

The Nwmls 21 form is a standardized document used in the real estate industry, specifically for residential purchase and sale agreements. This form outlines the essential terms and conditions for a transaction between a buyer and a seller, including details such as the purchase price, earnest money, and closing date. Understanding this form is crucial for both parties to ensure a smooth and legally compliant real estate transaction.

Table of Contents

The NWMLS Form 21, officially titled the Residential Purchase and Sale Agreement, serves as a critical document in real estate transactions within Washington State. This form outlines the essential terms of the agreement between the buyer and seller, including the purchase price, earnest money deposit, and closing details. It requires specific information such as the date of the agreement, the MLS number, and the legal description of the property, ensuring clarity and precision in the transaction. The form also addresses included items, which may range from appliances to fixtures, and specifies who will hold the earnest money. Additionally, it establishes the responsibilities of both parties regarding title insurance, closing costs, and the handling of any potential defaults. The agreement emphasizes the importance of agency disclosure, ensuring that both parties are aware of the representation provided by their respective brokers. Furthermore, it includes provisions for contingencies, such as the buyer's right to verify information about the property and the seller's obligations regarding title conditions. By outlining these terms, the NWMLS Form 21 aims to protect the interests of both buyers and sellers while facilitating a smooth transaction process.

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: ___________

↓ Nwmls 21 PDF

File Specs

Fact Name	Description
Form Purpose	The NWMLS Form 21 is a Residential Purchase and Sale Agreement used in Washington State for real estate transactions.
Governing Law	This form is governed by the laws of Washington State, specifically under the Revised Code of Washington (RCW).
Earnest Money	The agreement requires the buyer to provide earnest money within two days after mutual acceptance, which can be held by the selling firm or closing agent.
Included Items	Buyers can specify which items are included in the sale, such as appliances and fixtures, by checking corresponding boxes in the agreement.
Closing Process	The closing agent must complete the transaction on the specified closing date, with possession typically transferring at that time or as agreed upon.
Default Remedies	If the buyer defaults, the seller has options, including forfeiting the earnest money or pursuing other legal remedies.
Disclosure Requirements	Buyers must receive disclosures about lead-based paint if the property was built before 1978, allowing them to rescind the agreement within three days if necessary.

Nwmls 21 - Usage Guidelines

Completing the NWMLS 21 form is an essential step in the process of purchasing or selling a residential property. This form outlines specific terms and conditions agreed upon by both the buyer and seller. To ensure accuracy and clarity, it is important to follow the steps carefully when filling it out.

Date: Enter the current date on the designated line.
MLS No.: Fill in the Multiple Listing Service number associated with the property.
Buyer: Write the full names of all buyers involved in the transaction.
Seller: List the full names of all sellers involved in the transaction.
Property: Provide the Tax Parcel Number and the county in which the property is located. Then, fill in the street address, including the city, state (Washington), and zip code.
Legal Description: Attach a legal description of the property as Exhibit A.
Included Items: Check all items that are included in the sale, such as appliances and fixtures. If there are additional items, specify them in the provided space.
Purchase Price: Enter the total purchase price of the property.
Earnest Money: Specify the amount of earnest money, how it will be held (by Selling Firm or Closing Agent), and detail the payment methods (Personal Check, Note, Other).
Default: Check one option regarding default terms—either Forfeiture of Earnest Money or Seller’s Election of Remedies.
Title Insurance Company: Fill in the name of the title insurance company that will be used.
Closing Agent: Indicate whether a qualified closing agent of the buyer’s choice will be used or provide the name of the chosen agent.
Closing Date: Specify the date on which the closing will take place.
Possession Date: Indicate when the buyer will take possession of the property (on Closing or another specified date).
Offer Expiration Date: Fill in the date by which the offer will expire.
Services of Closing Agent for Payment of Utilities: Check whether this service is requested or waived.
Charges and Assessments Due After Closing: Choose whether these will be assumed by the buyer or prepaid by the seller at closing.
Agency Disclosure: Indicate the representation of both the Selling Broker and Listing Broker.
Addenda: Provide any additional information or documents that are part of the agreement.
Signatures: All buyers and sellers must sign and date the form in the appropriate spaces provided.
Contact Information: Include addresses, phone numbers, and email addresses for both buyers and sellers, as well as the selling and listing firms.

After completing the form, ensure all information is accurate and that all parties have signed where required. This form will serve as a foundational document in the real estate transaction, so clarity and completeness are vital.

Your Questions, Answered

What is the purpose of the NWMLS Form 21?

The NWMLS Form 21 serves as a Residential Purchase and Sale Agreement. It outlines the specific terms and conditions for the sale of residential real estate in Washington State. This form is crucial for both buyers and sellers as it details the purchase price, included items, earnest money, and other essential elements of the transaction.

What information is required to complete the NWMLS Form 21?

To complete the NWMLS Form 21, several key pieces of information are necessary. This includes the date of the agreement, MLS number, names of the buyer and seller, property details such as tax parcel number and street address, and the purchase price. Additionally, the form requires details about earnest money, closing agent, and any included items like appliances or fixtures.

How is earnest money handled according to the NWMLS Form 21?

Earnest money is a deposit made by the buyer to show good faith in the transaction. According to the NWMLS Form 21, the buyer must deliver the earnest money within two days after mutual acceptance of the agreement. The form allows for the earnest money to be held by either the selling firm or the closing agent. If the earnest money exceeds $10,000, it must be placed in an interest-bearing trust account, with any interest earned being paid to the buyer after deducting bank fees.

What happens if the buyer defaults on the agreement?

If the buyer fails to complete the purchase without a legal excuse, the NWMLS Form 21 specifies two potential remedies for the seller. The seller may choose to forfeit the earnest money, which cannot exceed 5% of the purchase price, or pursue other legal remedies, including suing for damages or enforcing the agreement. This provision ensures that the seller has options to recover losses incurred due to the buyer's default.

What are the closing and possession dates in the NWMLS Form 21?

The closing date is the day when all documents are recorded, and the sale proceeds are made available to the seller. The NWMLS Form 21 allows the parties to specify this date. Possession of the property typically transfers to the buyer on the closing date or on a mutually agreed-upon date. The form outlines that the seller must maintain the property in good condition until the buyer takes possession.

Can the NWMLS Form 21 be modified after it is signed?

Once signed, the NWMLS Form 21 constitutes the entire agreement between the parties. Any modifications must be made in writing and signed by both the buyer and seller to be effective. This ensures that any changes to the terms are clearly documented and agreed upon by both parties, maintaining the integrity of the agreement.

Common mistakes

Incomplete Information: Failing to fill out all required fields can lead to delays or complications in the transaction. Each section of the form must be addressed, including buyer and seller details, property information, and purchase price.
Incorrect Dates: Entering the wrong dates for the closing or possession can create confusion and affect the timeline of the transaction. It's important to double-check all date entries for accuracy.
Missing Signatures: All parties involved in the agreement must sign the document. Omitting a signature can invalidate the agreement and lead to potential disputes.
Improper Earnest Money Handling: Not specifying how the earnest money will be held or failing to provide the correct amount can complicate the process. Be sure to check the box indicating who will hold the earnest money and provide accurate figures.
Ignoring Included Items: Failing to check the boxes for included items can lead to misunderstandings about what is part of the sale. Carefully review the list of included items and ensure all desired items are marked.
Misunderstanding Agency Disclosure: Not clearly indicating the representation of brokers can cause conflicts later. It's essential to understand and accurately fill out the agency disclosure section.
Not Reviewing Addenda: Neglecting to attach or reference any necessary addenda can create gaps in the agreement. Ensure that all relevant documents are included and referenced appropriately.

Documents used along the form

When completing the Nwmls 21 form, several other documents may also be necessary to ensure a smooth transaction. These documents help clarify terms and protect the interests of both buyers and sellers. Here are four commonly used forms:

Nwmls Form 22K: This form is used to request the services of the closing agent for the payment of utilities. It allows buyers and sellers to specify how utility charges will be handled during the closing process.
Nwmls Form 65A: This is a rental agreement for occupancy prior to closing. If the buyer wishes to move into the property before the official closing date, this form outlines the terms of that arrangement.
Nwmls Form 65B: Similar to Form 65A, this document is for seller occupancy after closing. It allows the seller to remain in the property for a specified period after the sale has been finalized.
Nwmls Form 22E: This form certifies whether the seller is a foreign person under the Foreign Investment in Real Property Tax Act (FIRPTA). It ensures compliance with tax withholding requirements during the closing process.

Using these forms alongside the Nwmls 21 can help clarify responsibilities and protect both parties during the real estate transaction. Be sure to complete each document carefully and consult with professionals if needed.

Similar forms

The NWMLS Form 21, known as the Residential Purchase and Sale Agreement, shares similarities with the Purchase Agreement, which is commonly used in real estate transactions across the United States. Like the NWMLS Form 21, the Purchase Agreement outlines the essential terms of the sale, including the purchase price, earnest money, and closing date. Both documents serve as legally binding contracts between buyers and sellers, ensuring that both parties understand their obligations and rights throughout the transaction. The Purchase Agreement also typically includes contingencies, which are conditions that must be met for the sale to proceed, similar to the conditions outlined in the NWMLS Form 21.

Another document akin to the NWMLS Form 21 is the Exclusive Right to Sell Agreement. This document is used by real estate agents to establish a contractual relationship with a seller, granting the agent exclusive rights to market and sell the property. Like the NWMLS Form 21, it details specific terms such as the listing price, commission structure, and duration of the agreement. Both forms aim to protect the interests of the parties involved, ensuring clarity in expectations and responsibilities during the selling process.

The Listing Agreement is also comparable to the NWMLS Form 21. This document is used when a seller lists their property with a real estate broker. It outlines the terms of the listing, including the commission rate, the duration of the listing, and any specific conditions related to the sale. Similar to the NWMLS Form 21, the Listing Agreement establishes a legal framework that governs the relationship between the seller and the broker, ensuring that both parties are aware of their rights and obligations.

The Buyer’s Agency Agreement shares similarities with the NWMLS Form 21 in that it establishes a formal relationship between a buyer and a real estate agent. This agreement outlines the agent's responsibilities to the buyer, including their duty to represent the buyer's interests in the transaction. Like the NWMLS Form 21, it includes important details such as the duration of the agreement and the commission structure, ensuring that both parties are aligned in their expectations and responsibilities throughout the home-buying process.

Finally, the Earnest Money Agreement is closely related to the NWMLS Form 21. This document specifically addresses the earnest money deposit made by the buyer to demonstrate their commitment to purchasing the property. It details the amount of the deposit, how it will be held, and the conditions under which it may be forfeited or returned. Similar to the provisions in the NWMLS Form 21, the Earnest Money Agreement aims to protect both the buyer and seller by clearly outlining the terms surrounding this crucial aspect of the transaction.

Dos and Don'ts

When filling out the NWMLS 21 form, there are important guidelines to follow to ensure accuracy and compliance.

Do: Carefully read each section of the form before filling it out. Understanding the requirements will help avoid mistakes.
Do: Use clear and legible handwriting or type the information to ensure it is easily readable.
Do: Double-check all entries for accuracy, especially names, dates, and financial figures.
Do: Sign and date the form where indicated to validate the agreement.

Don't: Leave any required fields blank. Incomplete forms can lead to delays or issues.
Don't: Use abbreviations or shorthand that may confuse the reader.
Don't: Alter the form in any way that is not permitted. Stick to the provided format and instructions.
Don't: Forget to keep a copy of the completed form for your records.

Misconceptions

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

This is incorrect. Both buyers and sellers must complete and sign the Nwmls 21 form as it serves as a mutual agreement outlining the terms of the sale.

Misconception 2: The earnest money is non-refundable.

While earnest money is typically held as a good faith deposit, it can be refunded under certain conditions, such as if the buyer fails to secure financing or if the property does not meet agreed-upon conditions.

Misconception 3: The closing date is flexible and can be changed easily.

The closing date is an essential term in the agreement and requires mutual consent to change. Any alterations must be documented and agreed upon by both parties.

Misconception 4: The form guarantees a successful sale.

The Nwmls 21 form outlines the terms of the agreement but does not guarantee that the sale will proceed. Various factors, such as financing issues or inspection results, can impact the transaction.

Misconception 5: Buyers do not need to verify property information.

Buyers are encouraged to verify all information related to the property within a specified period. This due diligence helps protect their interests and ensures informed decision-making.

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

The form can include contingencies that allow either party to withdraw under specific circumstances, such as unsatisfactory inspection results or financing issues.

Key takeaways

When filling out and using the NWMLS 21 form, keep the following key points in mind:

Accurate Information: Ensure all details, such as names, addresses, and property information, are correct. Errors can lead to delays or complications.
Included Items: Clearly indicate which items are included in the sale. This can prevent misunderstandings later.
Earnest Money: Submit the earnest money promptly. This shows commitment and secures your position in the transaction.
Closing Details: Pay attention to the closing and possession dates. Knowing when you can move in is crucial for planning.
Consult Professionals: Consider seeking advice from real estate professionals or legal experts. Their guidance can help you navigate the process smoothly.