Contracts
A buyer submits an offer with an earnest money check of $10,000. The seller's broker must:
ACash the check immediately
BHold it uncashed until the offer is accepted, or deposit it in the trust account per the agreement's terms✓ Correct
CReturn it to the buyer within 24 hours
DFile it with the DOL
Explanation
In Washington, earnest money must be handled according to the purchase and sale agreement's terms — typically held uncashed until acceptance or deposited in the firm's trust account. Premature deposit can be a trust account violation.
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