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anyanavicka [17]
4 years ago
12

A buyer offers to purchase a house in Spokane for $200,000 and provides a $12,000 earnest money deposit. The seller accepts the

buyer's offer. Later the buyer defaults. Without considering that the seller may owe a commission to his agent, how much is the seller entitled to keep?
Business
1 answer:
ivann1987 [24]4 years ago
7 0

Answer:

The answer is given below;

Explanation:

The seller can hold amount to the maximum of $10,000 from earnest money deposit.The same will be placed in state pool trust account where the interest will be payable to the state. The difference of $2,000 may be repaid to the buyer subject to conditions of the agreement.

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