The bill establishes new consumer protections for owners of solicited real estate transactions, effective January 1, 2026. It mandates that when a potential buyer actively solicits the purchase of real property not currently listed on the market, the owner has the right to an appraisal by a licensed appraiser, which must be included in the purchase contract. Additionally, the owner can cancel the purchase contract without penalty within specified timeframes, either after receiving the appraisal or within ten business days if they choose not to obtain one. The bill also requires that the purchase contract clearly states these rights in boldface type and that the seller acknowledges them in writing.

Furthermore, the bill clarifies that these provisions do not apply to transactions involving a buyer or seller represented by a licensed real estate broker. It emphasizes that violations of these consumer protections are considered unfair or deceptive acts under the state's consumer protection laws. The new section created by this bill will be added as a chapter in Title 61 of the Revised Code of Washington (RCW).