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[Music] hi Im Annie Fitzsimmons Im your Washington Realtors Legal Hotline lawyer in todays video is another in the series weve entitled overconfident sellers plus over eager buyers equals broker liability and todays topic focuses focuses on a discussion of the weaponization of earnest money earnest money was originally created as a concept in our industry to motivate buyers to exercise good faith in closing the transaction buyer puts up this chunk of money and says to seller its going to take me a little while to create to generate financing seller youre going to have to go out and clear titles of property so from the day of the purchase and sale agreement until the time we can actually close the transaction I promise to exercise good faith heres a chunk of money to support or to show the earnestness of my intentions as earnest money what were seeing in todays marketplace is listing brokers and sellers actually using earnest money if you will as a punishment or a weapon again
