Are you wondering how much earnest money you should offer on a Sammamish or Eastside home? You are not alone. The deposit you choose can help you win the house, protect your budget, and set the tone for the entire deal. In this guide, you will learn what earnest money is, common deposit sizes on the Eastside, when it is refundable, and how to use it to strengthen your offer without taking on unnecessary risk. Let’s dive in.

Earnest money basics in Washington

Earnest money, sometimes called an earnest money deposit or good-faith deposit, is money you provide after you and the seller reach mutual acceptance on a purchase and sale agreement. It signals that you are serious about buying the home.

• The deposit is usually held by a title or escrow company in King County.
• If the sale closes, the funds are credited to you at closing and applied to your down payment or closing costs.
• The purchase and sale contract controls how the deposit is handled and when it is released.

If the buyer and seller disagree about releasing the deposit, escrow will follow the written instructions in the contract. If there is a dispute and no mutual agreement, escrow may require a written release from both sides or seek a court order through a process called interpleader.

What is typical on the Eastside today

Eastside home prices are among the highest in King County. In areas like Sammamish, Bellevue, Redmond, Kirkland, Issaquah, Newcastle, and Bothell, deposit size often tracks with price and the level of competition.

• A common starting point is 1% to 3% of the purchase price.
• You will also see fixed-dollar deposits, often $5,000, $10,000, or $15,000+, especially when the price is above $1 million.
• When inventory is tight or a listing is getting multiple offers, buyers sometimes offer more than 1% or structure part of the deposit as non-refundable to stand out. This can be risky for the buyer.

Example scenarios

• On a $700,000 home, a typical deposit might be $5,000 to $10,000, which is about 0.7% to 1.5%.
• On a $1,200,000 home, deposits often range from $10,000 to $36,000, roughly 1% to 3%, and sometimes higher in very competitive situations.

These are common ranges, not rules. Customary deposits vary by neighborhood, price point, and how hot the listing is. Your offer strategy should fit the current micro-market and your comfort level.

When your deposit is refundable

Earnest money is refundable when your contract gives you a way to cancel and you follow the steps and deadlines. The most common refunds happen through buyer-friendly contingencies.

• Inspection contingency. If you cancel within the inspection window and deliver proper notice, your deposit is typically returned.
• Financing contingency. If you are unable to obtain the agreed financing within the set period and you follow the notice requirements, the deposit is usually refundable.
• Appraisal contingency. If included, you can cancel when the appraisal is materially low and you follow the contract steps.
• Title and other listed contingencies. If the contract allows cancellation for a title issue or other specific items, the deposit follows the contract terms.

If you cancel outside of your contingency rights or miss a deadline, the seller may have the right to keep the deposit, depending on the contract. If the seller defaults, you are typically entitled to a return of the deposit.

Deposit timing after mutual acceptance

Most Washington contracts set a short delivery window for your deposit. In many Eastside deals, buyers deliver the deposit within 24 to 72 hours after mutual acceptance, or whatever deadline the contract specifies. Delivering late can be a breach of the contract and put your deal at risk.

How deposit size affects offer strength

Sellers often look at deposit size as a signal of commitment. A larger deposit can reduce the seller’s fear that a buyer will walk away after contingencies expire, which can make your offer more compelling.

Here are common tactics you might see on the Eastside:

• Increase the deposit amount to show commitment.
• Shorten the inspection period or loan deadlines, if your due diligence supports it.
• Provide a strong pre-approval letter from your lender.
• Some buyers offer appraisal gap guarantees or waive the appraisal contingency. This raises risk for the buyer and should be carefully considered.
• In very competitive cases, buyers sometimes offer a partially or fully non-refundable deposit. This should only be used when you have done meaningful due diligence and accept the risk.

A bigger deposit is not a substitute for preparation. Strong offers balance price, contingencies, deposit size, and a clear closing timeline.

Risk management tips

• Keep a defined inspection period and use an experienced inspector.
• If you consider a non-refundable structure, limit the amount or the timing, and only after key inspections or lender reviews.
• Verify your financing timelines with your lender so your contingencies match real-world underwriting.
• Do not wire funds until you confirm wiring instructions directly with the escrow company using a known phone number.

Step-by-step checklist for Eastside buyers

Use this simple checklist to plan your deposit and protect your deal.

Before you write an offer

• Ask your agent what deposit sizes are customary in your specific neighborhood and price band.
• Confirm typical inspection, financing, and appraisal timelines and what sellers expect right now.
• Secure a strong pre-approval letter from your lender.

Choosing your deposit amount

• Use the 1% to 3% range as a starting point. Adjust up or down based on competition and listing signals.
• Consider fixed-dollar deposits for clarity, such as $10,000 on many mid-price listings.
• Balance competitiveness with your risk tolerance. The more you put at risk, the more you could lose if you default.

After mutual acceptance

• Deliver the deposit by the contract deadline, often within 24 to 72 hours.
• Keep receipts and written confirmation from escrow that your deposit was received.
• Track every contingency deadline. Set calendar reminders and send notices in writing.

Protect against wire fraud

• Call the escrow company at a verified phone number to confirm wiring instructions.
• Use the escrow company’s secure portal if available.
• Be wary of email changes to wiring instructions. Confirm any changes by phone with the escrow officer you know.

If a dispute arises

• Ask escrow for a written explanation of their hold and release process.
• If the other party will not sign a release, escrow may hold the funds or seek a court order. Consult an attorney if needed.

Smart questions to ask

• What deposit amount is customary for this neighborhood and price today?
• What is my deadline to deliver the deposit and how should I deliver it?
• Which contingencies protect me and how long are their windows?
• What happens to my deposit if I cannot close because of underwriting or appraisal?
• In multiple-offer situations, what deposit and timelines will be credible to the seller?

Who holds and releases the money

In King County, title and escrow companies commonly hold earnest money. They must follow the written instructions in the purchase and sale agreement and the escrow instructions.

If the transaction fails and both sides agree in writing, escrow will release funds according to that agreement. If the parties do not agree, escrow typically will not release the money without mutual instructions or a court order. In some cases, escrow may file an interpleader and let the court decide.

Common mistakes to avoid

• Depositing late. Missing the deposit delivery deadline can jeopardize your deal.
• Overcommitting non-refundable funds. Do not make funds non-refundable without meaningful due diligence.
• Ignoring deadlines. If you miss a contingency window, your ability to get the deposit back may be lost.
• Wiring without verifying. Always verify instructions directly with the escrow company by phone.
• Assuming there is one standard deposit. Norms vary across Sammamish, Bellevue, Redmond, Kirkland, Issaquah, Newcastle, and Bothell.

Putting it all together

Your earnest money should match the price point, competition level, and your risk comfort. On the Eastside, many buyers start around 1% to 3% of the price or choose a fixed amount like $10,000 to show commitment. Use contingencies wisely so you can compete with confidence and keep your downside in check.

If you want a clear strategy tailored to your target neighborhood and budget, connect with a local team that knows the Eastside inside and out. Reach out to Shane Coulter & Anne Welch to plan your deposit, timelines, and offer terms with confidence.

FAQs

What is earnest money in Washington real estate?

• It is a buyer’s deposit held by escrow or title after mutual acceptance, credited to you at closing, and governed by the purchase and sale contract.

How much earnest money is typical on the Eastside?

• A common range is 1% to 3% of the purchase price, or fixed amounts like $5,000 to $15,000+, with higher deposits in more competitive situations.

When can I get my earnest money back?

• You can usually get it back if you cancel within a valid contingency window, follow the contract steps, and give proper notice within the deadline.

How fast do I need to deposit the money?

• Many contracts require delivery within 24 to 72 hours of mutual acceptance, or by a specific deadline in the agreement.

Who holds my deposit in Sammamish or King County?

• Most deposits are held by a title or escrow company, which follows the written instructions in the contract and escrow instructions.

What happens if there is a dispute over the deposit?

• Escrow generally will not release funds without written agreement from both parties or a court order, and may file an interpleader in some cases.

Do larger deposits make my offer stronger?

• Often yes, because they signal commitment to the seller, but they also increase your potential loss if you default, so balance size with your risk tolerance.