Hi I'm Sean Reynolds the owner and designated managing broker of Summit properties Northwest this is a quick tutorial video on form 21 the residential real estate purchase and sale agreement specific terms before I get into kind of the guts of this form I'm going to read a couple of common notes associated with this form but first let me take you to the MLS forms manual and so the Northwest Multiple Listing Service has a forms manual in for every single one of the important forms and so you go to the forms manual go down to form 21 residential and open that up, and you'll have all kinds of general comments and guidelines for each form so if is I've missed something in this video you can go ahead and check it out here and get some more information all right let's go back to the form, and you're only using form 21 if it's a single-family residential home if it's only a home if it is a condo use form 28 if it's vacant land use form 25 if it's a multi-family either a duplex triplex or four-plex use form 20 or manufactured home on leased land use form 23 fill in everything in this form the only two required blanks or the only two blanks that aren't required to be filled in are the MLS number and then also the tax parcel number everything else needs to be filled in if there isn't if the blank isn't applicable to this purchase and sale agreement either write in n/a or cross it out altogether just make it really clear that hey this isn't applicable the most common mistakes for this agreement being invalid or failure to check a box in complete legal description got to use...
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About Nwmls Form 21
NWMLS Form 21 is a standardized real estate purchase and sale agreement form created by the Northwest Multiple Listing Service (NWMLS). NWMLS is a regional MLS provider serving real estate professionals in the Pacific Northwest region of the United States, specifically Washington state. Form 21 is designed to document the details of a residential property purchase and sale agreement. It covers various aspects of the transaction, including the property's address and legal description, purchase price, financing terms, inspection contingencies, and closing contingencies. The form also provides sections to specify the rights and obligations of both the buyer and the seller. This form is typically used by real estate agents, brokers, attorneys, and other professionals involved in residential real estate transactions. Buyers and sellers can use Form 21 to formalize their agreements and ensure that all necessary terms and conditions are documented correctly. It helps provide clarity, transparency, and legal protection for all parties involved in the transaction.
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