As of January 1, 2026, a significant change to Washington real estate law has taken effect that may directly impact how buyers approach off-market acquisitions—specifically, RCW 61.40.010 creates a new “appraisal contingency.”

This legislation affects circumstances where a buyer makes an unsolicited offer on a property not actively listed for sale and the seller is also not represented by a real estate agent.

What to Know

Under this new statute, unrepresented sellers in these transactions are granted a right to an appraisal and a right  to terminate the Purchase and Sale Agreement (after it has been fully executed):

• • Right to Appraisal: The seller has the right to request an appraisal, which must be paid for by the buyer.
  • Termination with Appraisal: If the seller obtains an appraisal, they have the right to terminate the Purchase and Sale Agreement within 4 days of receiving the results of the appraisal. Importantly, the seller can terminate the Purchase and Sale Agreement regardless of whether the appraised value is higher or lower than the purchase price.
  • Termination without Appraisal: Even if the seller chooses not to get an appraisal, they retain the right to terminate the Purchase and Sale Agreement within 10 days of signing the agreement.

Why This Can Matter

For buyers who rely on securing off-market land, this introduces a new layer of risk during the initial contract period. Deals that appear locked up could now be terminated unilaterally by the seller weeks after a Purchase and Sale Agreement has been executed (depending on how long it takes to obtain an appraisal).

Such buyers may want to review their acquisition strategies and contract timelines to account for this statutory “cooling-off” period for unrepresented sellers.

If you want help with those strategies or have questions about RCW 61.40.010’s effects on your project pipeline, please contact Milt Reimers.‎

This article summarizes aspects of the law and does not constitute legal advice. For legal ‎advice for your situation, you should contact an attorney.‎