What Does “Time Is of the Essence” Mean in a Washington Real Estate Contract?

In Washington real estate contracts, the phrase “Time Is of the Essence” means every deadline in the agreement is strictly enforceable.

Not approximate.
Not flexible.
Not “close enough.”

Exact.

If a deadline passes without required action, contractual rights can expire automatically.

Where The Phrase “Time is of the Essence” Appears

“Time Is of the Essence” is written directly into the Washington Residential Purchase and Sale Agreement.

It applies to:

  • Inspection deadlines
  • Financing timelines
  • Title review periods
  • HOA resale certificate review
  • Seller disclosure review
  • Closing date

Every contractual time period runs on a strict clock.

Why This Matters in Washington

All major buyer protections are tied to deadlines that begin at Mutual Acceptance.

These commonly include:

  • NWMLS Form 35 — Inspection contingency period
  • NWMLS Form 22A — Financing contingency
  • Title review period in the Purchase and Sale Agreement
  • NWMLS Form 22D — Resale certificate review
  • Seller disclosure review (Form 17 or Form 22S)

If a deadline passes without proper notice or action, the contingency may expire automatically.

No reminder is required.

What This Means for Buyers

Many buyers assume:

“We probably have a little extra time.”

You do not.

If an inspection response is due on Day 10, it must be delivered on Day 10 — not Day 11.

Missing a deadline can mean:

  • Losing the right to request repairs
  • Losing the right to terminate
  • Losing financing protection
  • Risking earnest money

Even being off by one day can remove contractual protections.

What This Means for Sellers

For sellers, contingency deadlines provide increasing security.

As time passes and buyer protections expire:

  • Earnest money becomes less protected
  • The contract becomes firmer
  • Risk of cancellation decreases

The deal strengthens because legal rights expire — not simply because time passed.

How Deadlines Are Calculated

Deadlines are calculated based on:

  • The number of days written in the contract
  • Whether they are calendar days or business days
  • The exact time stamp of Mutual Acceptance

If Mutual Acceptance occurs late in the day, that affects the calculation.

Precision matters.

Can Deadlines Be Extended?

Yes — but only by written agreement signed by both parties.

Verbal agreements do not modify the contract.

If a deadline is approaching, an extension must be:

  • Drafted
  • Signed
  • Delivered before the deadline expires

Once expired, protections cannot simply be reinstated.

Bottom Line

“Time Is of the Essence” means Washington real estate contracts operate on an exact legal clock.

Missing a deadline can instantly eliminate buyer protections.

Understanding when deadlines begin — and tracking them precisely — is critical to protecting your rights and your earnest money. the contract runs on an exact clock, and missing deadlines can remove buyer protections instantly.

FAQ

Are contract deadlines flexible in WA?

No. Deadlines are strictly enforceable under the “Time Is of the Essence” provision.

When do contract deadlines start?

Deadlines begin at the exact date and time of Mutual Acceptance.

Can a buyer ask for more time?

Yes, but the seller must agree in writing before the deadline expires.

What happens if a buyer misses a contingency deadline?

The contingency may expire automatically, and earnest money may be at risk.

Does the closing date control contingency deadlines?

No. Contingency deadlines are calculated from Mutual Acceptance, not the closing date.