Contracts
In Hawaii, what is the typical earnest money deposit amount expected in a residential transaction?
AA. 1% of purchase price
BB. 5–10% of purchase price✓ Correct
CC. 20% of purchase price
DD. A flat $1,000 regardless of price
Explanation
Hawaii market practice typically calls for 5–10% of the purchase price as earnest money. This is held in escrow and demonstrates the buyer's serious intent.
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