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

Wed May 13 06:30:59 PDT 2020

Thank you!

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Paul Neumiller
Sent: Tuesday, May 12, 2020 3:57 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Limit on Earnest Money Amount that can be forfeited.

Remember that the 5% rule is only if the seller wants to use the safe harbor rule of RCW 64.04.005 and not have to prove any damages in order to keep the deposit.  However, if the seller can establish actual damages under the common law caused by buyer’s breach of the contract, then the seller is able to retain a deposit that is greater than the 5%.   

IMPORTANT NOTICE:  This e-mail message is intended to be received only by persons entitled to receive the confidential information it may contain. E-mail messages to clients of Paul A. Neumiller presumptively contain information that is confidential and legally privileged; e-mail messages to non-clients are normally confidential and may also be legally privileged. Please do not read, copy, forward or store this message unless you are the intended recipient of it. If you have received this message in error, please forward it back to the sender and delete it completely from your computer system.

E-mail communication on the Internet may NOT be secure. There is a risk that this confidential communication may be intercepted illegally. There may also be a risk of waiving attorney-client and/or work-product privileges that may attach to this communication. DO NOT forward this message to a third party. If you have any questions regarding this notice, please contact the sender.

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Craig Blackmon
Sent: Tuesday, May 12, 2020 3:30 PM
To: jeff at bellanddavispllc.com; WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Limit on Earnest Money Amount that can be forfeited.

https://app.leg.wa.gov/RCW/default.aspx?cite=64.04.005 <https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fapp.leg.wa.gov%2FRCW%2Fdefault.aspx%3Fcite%3D64.04.005&data=02%7C01%7C%7Cb8520fb893554a36b86308d7f6c4954d%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637249196479963979&sdata=fqpzw8mhBm%2F1uf2F6qPo2wVM3aX3i7pXmGgF%2FGBzPQw%3D&reserved=0> 

Craig Blackmon, Attorney at Law <https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.mywsba.org%2FPersonifyEbusiness%2FLegalDirectory%2FLegalProfile.aspx%3FUsr_ID%3D000000029240&data=02%7C01%7C%7Cb8520fb893554a36b86308d7f6c4954d%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637249196479973974&sdata=S6FsQqOAQRtRuiryhrDJeK84n9ID3SyvH44aU8%2BAXzo%3D&reserved=0> 

92 Lenora St., Seattle WA  98121 

Office/Cell: (206) 369-5949   

On the blog: The Form 17, Explained <https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseattlepropertylawyer.com%2Fblog%2Fseller-disclosure-statement-form-17-explained&data=02%7C01%7C%7Cb8520fb893554a36b86308d7f6c4954d%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637249196479973974&sdata=nbXlhWXBJ18SrKXq1FgRrW2wKp%2FMu4mNsZ40mnxcDV8%3D&reserved=0> 

CONFIDENTIALITY NOTICE: This communication is a private, confidential electronic communication encompassed by 18 USC 2510. It is for the sole use of the intended recipient and receipt by anyone other than the intended recipient does not constitute a loss of its confidential or privileged nature.  Any review or distribution by others is strictly prohibited. If you are not the intended recipient please inform the sender and destroy all copies.

On Tue, May 12, 2020 at 3:27 PM Jeff Davis <jeff at bellanddavispllc.com <mailto:jeff at bellanddavispllc.com> > wrote:

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: info at bellanddavispllc.com <mailto:info at bellanddavispllc.com> 
www.bellanddavispllc.com <https://nam11.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.bellanddavispllc.com%2F&data=02%7C01%7C%7Cb8520fb893554a36b86308d7f6c4954d%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637249196479983972&sdata=OcLN1t14wwGgtOlhQBuRKQ7z2oxeRMDcQ8c8CpDtMNk%3D&reserved=0> 

The information contained in this e-mail message may be privileged, confidential, and protected from disclosure. If you are not the intended recipient, any dissemination, distribution, or copying is strictly prohibited. If you think that you have received this e-mail message in error, please e-mail the sender at info at bellanddavispllc.com <mailto:info at bellanddavispllc.com>   or call 360.683.1129

***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***

_______________________________________________
WSBARP mailing list
WSBARP at lists.wsbarppt.com <mailto:WSBARP at lists.wsbarppt.com> 
http://mailman.fsr.com/mailman/listinfo/wsbarp <https://nam11.safelinks.protection.outlook.com/?url=http%3A%2F%2Fmailman.fsr.com%2Fmailman%2Flistinfo%2Fwsbarp&data=02%7C01%7C%7Cb8520fb893554a36b86308d7f6c4954d%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637249196479983972&sdata=j8io6k72hSq7mhZlRN1C3C8PuPZFxToiZ2s3POu1psw%3D&reserved=0> 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20200513/af2a57f4/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.jpg
Type: image/jpeg
Size: 8405 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20200513/af2a57f4/image001.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 404 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20200513/af2a57f4/image004.jpg>