This bill amends existing law (RCW 61.40.010 and 2025 c 417 s 1306) to create procedural protections for owners of privately held, nonpublicly listed real property when a buyer actively solicits the sale. For contracts executed on or after January 1, 2026, the seller must be given an express contractual right to an appraisal by a licensed appraiser and a corresponding right to cancel the purchase contract without penalty, subject to specified procedures. If the seller exercises the appraisal right, the seller chooses the appraiser, the buyer pays the appraisal, the appraisal must be ordered within three business days of contract execution, and the seller may cancel within four business days after receipt of the appraisal. If the seller declines an appraisal, the seller may cancel within 10 business days after contract execution. Cancellation notices may be sent by mail, telegram, email, or other written communication and are treated as given when mailed, filed for telegraphic transmission, emailed, or delivered to the buyer’s designated place of business. The purchase contract must state the appraisal and cancellation rights in at least 10-point boldface type and the seller must acknowledge them in writing. The section exempts parties represented by a real estate broker licensed under chapter 18.85 RCW and exempts certain public entities (including transportation acquisitions), federally recognized Indian tribes, and nonprofit nature conservancy corporations or associations acquiring property for a public benefit with an appraisal prior to closing. The legislature declares violations of this section to be unfair or deceptive acts under the Washington Consumer Protection Act (chapter 19.86 RCW). The extracted text refers to other statutes (chapter 18.140 RCW for appraiser licensing, RCW 84.34.250 for conservancy definitions, and chapter 77, Laws of 2025 (SHB 1081)) but those definitions and related provisions are not included here. The chunk indicates a new section is being created but only includes Sec. 1 (findings) and Sec. 2 (amendment to RCW 61.40.010); if additional new-section text exists, it is not present in the provided material.

If enacted, owners of privately held, unlisted property who receive a direct purchase solicitation will have a clear, short window to get an independent appraisal (paid by the prospective buyer) and to cancel the sale without penalty, or to cancel within a fixed period if they decline an appraisal. That will give those sellers more leverage and time to reconsider unsolicited offers, while likely increasing costs and short-term disruption for buyers who must pay for an appraisal and face a higher chance a signed contract will be undone during the appraisal or cancellation windows. Licensed appraisers will likely see more orders, and transactions handled through or by licensed real estate brokers or certain public agencies and conservation nonprofits will not be affected. Practical compliance will require purchase contracts to include the appraisal and cancellation language in bold type and a written seller acknowledgement, or sellers and closing agents risk consumer-protection enforcement for violations. The text provided omits some implementation details — for example how “actively solicits” is defined and whether there are other related provisions — so some uncertainty remains about which specific solicitations qualify and how disputes over timing or notice will be resolved.