Buying Guide · FAQ
What is earnest money and how much is standard in Seattle?
Last updated: March 2026
Quick Answer
Earnest money is a deposit made by the buyer within a few days of the accepted offer to demonstrate good faith. In Seattle, earnest money of 2% to 3% of the purchase price is common, though it varies. The funds are held in escrow and applied to the purchase at closing. They are at risk if the buyer defaults on the contract outside of contingency protections.
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How long does the Seattle home buying process take from start to finish?
From beginning the search to closing, most buyers in Seattle's market take two to six months. Active, prepared buyers in specific well-defined neighborhoods can find a home and close in 60 days. Buyers who are still calibrating their priorities or searching in multiple areas may take longer.
Read answerDo I need a buyer's agent in Seattle?
Technically no, but practically yes. Following the 2024 NAR settlement, buyer's agent compensation is now negotiated separately rather than being automatically provided by the seller. Most transactions still involve a buyer's agent whose compensation is contributed by the seller as part of the offer negotiation. Working without representation in Seattle's market leaves a significant information asymmetry that typically disadvantages buyers.
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