[WSBARP] limit on Earnest Money.

[Craig Gourley]

Listmates,   I understand the Earnest Money limitations contained in RCW 64. 04.005 and that earnest money outside of the 5% is controlled by case law.  I have a very large developer that is offering my client substantially more than the 5% as Earnest money and they have offered to waive the statutory limit.  Typically I would just restructure it as an partially an option payment but the developer is pushing back.  I thought I would consult the collective before diving into case law.    Any thoughts?  Thanks!

GOURLEY LAW GROUP
THE EXCHANGE CONNECTION
SNOHOMISH ESCROW
P.O. Box 1091
Snohomish, WA 98291
PH:  (360) 568-5065 (800) 291-8401
Fax: (360) 568-8092

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