Washington Purchase and Sale Agreement

WASHINGTON RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT AND ESCROW INSTRUCTIONS

NOTICE TO USERS OF THIS FORM: There is no all-inclusive purchase and sale or escrow agreement that will apply to all residential purchase and sale transactions. This form residential purchase and sale agreement and escrow instructions has been prepared by legal counsel for ChoiceA, Inc. ("ChoiceA") and contains basic terms that apply to the majority of residential transactions.

However, although every care has been taken to ensure that this document is fair and complete and favoring neither party, it is common for terms and conditions unique to a particular transaction to arise that need to be included in the written agreement between the Buyer and Seller.

If either party finds this form to be unsatisfactory given the unique circumstances of his or her proposed transaction, it is strongly encouraged that Buyer and Seller obtain qualified legal counsel to review this form and revise this form purchase and sale agreement as necessary to meet the needs of the Buyer and Seller.

This Washington Residential Real Estate Purchase and Sale Agreement and Escrow Instructions ("Agreement") by and between

Recitals

A. Seller is the owner of the real property and improvements (the "Property") located in the City of County of State of Washington, commonly known as having the following legal description:

Property Parcel Identification Number:

B. Buyer desires to purchase from Seller, and Seller desires to sell to Buyer, the Property on the terms and conditions set forth in this Agreement.

1. Purchase and Sale.

Buyer agrees to purchase the Property from Seller and Seller agrees to sell the Property to Buyer for the sum of $ .00 USD ("Purchase Price").

2. Payment of Purchase Price.

Earnest Money Deposit. Within 3 business days of the Effective Date of this Agreement, Buyer will deposit into escrow with Title Company the sum of $ .00 USD.

Balance of Purchase Price. On or before the Closing Date, Buyer will deposit into escrow the cash, wire transfer, certified check, or cashier's check in the amount of the balance of the Purchase Price.

3. Escrow and Escrow Agent.

Name of Title Company:

Address of Title Company:

Name of Title Officer/Escrow Agent:

Phone Number of Title Company:

E-Mail Address of Title Officer/Escrow Agent:

4. Closing.

This transaction will be closed on a date mutually agreed upon by Buyer and Seller, but in no event later than (the "Closing Date" or "Closing").

5. Preliminary Title Report.

Seller will furnish Buyer with a preliminary title report and Buyer will have the opportunity to review and object to exceptions shown in the report.

6. Buyer's Contingencies.

Buyer’s inspection contingency completion date:

Financing contingency loan term: years

Maximum interest rate: %

Loan application due within days after Effective Date.

Waive inspection contingency

Waive financing contingency

Waive appraisal contingency

7. Buyer's Right to Enter Property/Indemnity.

Buyer may enter the Property for inspections or tests at Buyer's sole expense and liability, subject to reasonable notice and accommodation.

8. Repairs and Final Walk-Through.

Seller's agreed repairs and completion details:

9. Deed.

On the Closing Date, Seller will execute and deliver to Buyer a statutory warranty deed.

10. Title Insurance.

At Closing, Seller agrees to provide title insurance policy as described in the Agreement.

11. Seller Representations.

Seller knows of no material structural defects.

Electrical, heating, cooling, and plumbing systems are in good working order.

Seller has received no written notice of liens to be assessed.

Seller has received no written notice of code violations.

Seller is not a foreign person under IRC § 1445.

No hazardous materials or wastes are present on or under the Property.

12. Buyer Representations.

Buyer acknowledges purchase of the Property "AS IS," subject to inspection rights and the terms of this Agreement.

13. Possession.

Buyer will be entitled to possession upon closing of this transaction.

14. Included Items.

Property Included:

Personal Property Included:

15. Risk of Loss.

Risk of loss remains with Seller until Closing.

16. Closing Costs; Prorations.

Proration and closing costs will be handled as stated in the Agreement.

17. Default.

Default and remedies are governed by the Agreement.

18. Lead Warning Statement.

Buyer acknowledges receipt of the Lead Warning Statement and opportunity to conduct a lead-based paint inspection or risk assessment.

19. Attorneys' Fees.

Attorneys' fees and costs are recoverable by the prevailing party as described in the Agreement.

20. Notices.

For Buyer:

For Seller:

21. Time of Essence.

Time is of the essence of this Agreement.

22. Binding Effect/Assignment Restricted.

This Agreement is binding on and will inure to the benefit of the parties and their successors and assigns.

23. Governing Law and Venue.

This Agreement will be governed by and interpreted in accordance with the laws of the State of Washington.

24. Headings.

Headings are for convenience only and do not affect interpretation.

25. Entire Agreement.

This Agreement supersedes prior negotiations and may be modified only by a written agreement signed by both parties.

26. Survival.

Representations, warranties, and agreements survive closing.

27. Real Property Transfer Disclosure Statement.

Seller agrees to complete and deliver the attached disclosure statement within five days of mutual execution.

28. No Brokers Or Agents.

The parties represent that neither party has employed a real estate broker or agent, or that such costs will be paid outside the closing of this Agreement.

29. IRC 1031 Exchange.

If either party wishes to enter into a tax-free exchange under Section 1031, the other party agrees to cooperate as stated in the Agreement.

30. Counterparts.

This Agreement may be signed in multiple counterparts with the same effect as an original.

31. Seller's Time for Acceptance.

Seller will have only until 5:00 p.m. on to accept this Agreement.

NOTE: Full and proper legal names of Buyer(s) and Seller(s) are required below.

MAKE COPIES OF THIS AGREEMENT. BOTH PARTIES SHOULD HAVE A SIGNED DOCUMENT.

Have you calculated how much money was saved on this transaction if you chose not to sell it on your own? Congratulations, you are well on your way to closing a transaction for this property.