Washington License Law
Under Washington's real estate brokerage practices rules, a licensee must disclose their license status when purchasing real property for their own account. This disclosure must be made:
AAt or before closing
BWhen the licensee submits a written offer
CWhen the licensee first contacts the seller or seller's agent✓ Correct
DOnly if the seller directly asks
Explanation
Washington requires licensees to disclose their license status at the earliest opportunity — when they first contact the other party or their agent — not just at the time of an offer or at closing.
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Key Terms to Know
Right of First Refusal
A contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
State-Specific Concepts
License Law
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