Washington's earnest money requirements state:

While no state law requires a buyer to make an earnest money deposit as a matter of contract validity (a contract can be formed without consideration beyond the mutual promises), Washington's standard practice and NWMLS forms do establish clear timing requirements once the parties have agreed to include an earnest money deposit in their transaction.

Earnest money in Washington is held by a neutral third party — typically the selling broker's trust account or an escrow/title company — not by the seller, because holding funds in trust protects both parties and ensures the money is available for proper disbursement at closing or in the event of a dispute.

Stating there are 'no time requirements' is incorrect and dangerous advice for a licensee to follow, as the three-business-day requirement is a well-established standard in Washington real estate practice that, if violated, can expose a buyer's broker to liability and create grounds for the seller to declare the buyer in default.