The bill aims to clarify consumer protections regarding unsolicited real estate transactions, specifically when offers are made by government agencies or nonprofit land conservancies. It amends RCW 61.40.010 to specify that the additional protections established in chapter 77, Laws of 2025 (SHB 1081) are not necessary for these entities due to their distinct legal standards and appraisal requirements. The bill introduces a new section that outlines the rights of property owners when they receive unsolicited offers, including the right to an appraisal and the ability to cancel the purchase contract without penalty under certain conditions.

Key provisions include the requirement for the purchase contract to clearly state the owner's rights to an appraisal and cancellation, as well as the stipulation that the potential buyer is responsible for the appraisal costs. The bill also specifies that these protections do not apply to transactions involving licensed real estate brokers and clarifies that public entities, including those acquiring property for public purposes or nonprofit land conservancies, are exempt from these regulations. The language of the bill emphasizes the importance of these practices in protecting public interest and defines violations as unfair or deceptive acts under the consumer protection act.

Statutes affected:
Original bill: 61.40.010