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Save Earnest Money Promissory Note in PDF

Save Earnest Money Promissory Note in PDF

Aug 6th, 2022

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How to Save Earnest Money Promissory Note in PDF

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Annie Fitzsimmons, Washington Realtors Legal Hotline lawyer, addresses experienced members regarding the use of promissory notes for earnest money. She advises against this practice, stating it is outdated. Many agents use promissory notes to provide buyers with additional time—typically three to five days—to deliver earnest money after mutual acceptance, allowing them to access funds or wait for inspection contingencies. Fitzsimmons emphasizes the need to move away from this antiquated approach, highlighting that such delays are not necessary. She suggests that realtors should adapt to more modern practices regarding earnest money deposits.

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