[WSBARP] Limit on Earnest Money Amount that can be forfeited.

[nestor at pplsweb.com]

See RCW 64.04.005.

 

 

Nestor Gorfinkel, Attorney at Law

Licensed in Washington & Florida

Florida Civil-Law (International) Notary

 

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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com>
On Behalf Of Jeff Davis
Sent: Tuesday, May 12, 2020 3:22 PM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Limit on Earnest Money Amount that can be forfeited.

 

Listmates,

 

Probate estate is selling decedents home.  Buyer wants to put down a large
earnest money that amounts to 13% of the purchase price.  Somewhere in the
past, it seems our Courts limited the amount of earnest money a Seller can
retain on default to somewhere around 5% of the purchase price.  Your
thoughts would be helpful.

 

Jeff Davis

 

W. Jeff Davis, Esq.

BELL & DAVIS PLLC
P.O. Box 510
Sequim WA 98382
Phone No.:(360) 683.1129 
Fax No.: (360) 683.1258 
email:  <mailto:info at bellanddavispllc.com> info at bellanddavispllc.com
 <http://www.bellanddavispllc.com/> www.bellanddavispllc.com
 
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