David is purchasing a single-family home in Spokane. He signs the purchase and sale agreement on Monday and receives the completed Form 17 from the seller on Wednesday. On Friday — two business days after receiving Form 17 — David discovers a neighbor dispute mentioned in the disclosure that concerns him. He notifies his broker that he wants to cancel the transaction. Which of the following statements best describes David's legal position under Washington law?
Correct Answer
B) David can rescind because he is still within the three-business-day statutory rescission window under RCW 64.06.013.
Under RCW 64.06.013, a buyer has three business days from receipt of the completed Form 17 to rescind the purchase and sale agreement, regardless of when the agreement was signed. David received Form 17 on Wednesday, and Friday is only Day 2 of the three-business-day window. He is still within the rescission period and may cancel without penalty.
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