In Washington, a purchase and sale agreement becomes binding when:
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Buyer signs
The buyer signing alone doesn't create a binding agreement. A contract requires mutual acceptance from all parties, not just one. The seller could reject the buyer's terms or make counteroffers.
Mutual acceptance occurs (all parties sign and agree)
Earnest money is deposited
Earnest money deposit is evidence of the buyer's good faith but doesn't create the binding contract. It's typically required after mutual acceptance, not as the triggering event for contract formation.
Inspection is complete
Completion of inspections relates to contingencies within the contract, not the formation of the contract itself. The contract exists before inspections are complete.
Why is this correct?
Mutual acceptance represents the moment when both parties have agreed to all terms and conditions, creating a legally binding contract. This is the fundamental principle of contract formation - mutual assent to the same terms at the same time.
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