Under WA law, how is the deposit amount set when a buyer signs an Offer and Acceptance form?
Correct Answer
C) The parties negotiate it and record it in the offer; no amount is legislated
WA law does not set a deposit amount. The buyer and seller agree it and record it in the Offer and Acceptance, often as a fixed sum or a percentage of the price. The agent holds it in trust until settlement or until the contract ends.
Why This Is the Correct Answer
No WA statute fixes the deposit; it is negotiated between buyer and seller and written into the Offer and Acceptance.
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