Contracts
A Washington buyer and seller have a purchase and sale agreement. The seller dies before closing. What typically happens to the contract?
AThe contract is automatically void and earnest money is returned
BThe seller's estate is generally obligated to complete the transaction✓ Correct
CThe buyer must release the estate from the obligation
DThe property immediately goes to probate and cannot be sold for 1 year
Explanation
A real estate purchase and sale agreement is generally binding on the parties' estates. If the seller dies before closing, the seller's personal representative (executor or administrator) is typically obligated to complete the transaction according to the contract terms.
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