In a standard WA residential property transaction, what is the typical settlement period?
Correct Answer
D) 30 days
The standard settlement period for residential property in WA is typically 30 days from the date of the contract, though this can be varied by agreement between the parties. The REIWA Offer and Acceptance form allows the parties to specify a different settlement date.
Why This Is the Correct Answer
A settlement about 30 days after the contract is common in WA residential sales, though the parties can agree any date in the Offer and Acceptance.
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