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In this video, Annie Fitzsimmons, Washington Realtors Legal Hotline lawyer, addresses experienced realtors about the outdated practice of using promissory notes for earnest money. She advises against this practice, questioning the necessity of promissory notes when buyers often seek extra time to deliver earnest money after mutual acceptance. Sellers typically request promissory notes to accommodate buyers needing days to secure funds or to wait until inspection contingencies are resolved. Fitzsimmons emphasizes the need to move away from this antiquated method in real estate transactions.