Buying Guide · FAQ
Last updated: May 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.
Related Questions
In most cases, yes — conforming loan limits in King County sit below this range for most of 2026, making jumbo financing the standard path for buyers who are financing rather than paying cash.
Read answerMost jumbo lenders require 20 to 30 percent down at this tier, higher than the 3 to 10 percent common for conventional, entry-level financing.
Read answerInspectors experienced with older, high-value Seattle homes can distinguish between typical characteristics of the era and construction type versus genuine red flags — a distinction that matters more at this tier since the cost of getting it wrong is higher.
Read answerGenerally yes — an advisor with genuine relationships and transaction history in the $1M–$3M tier can surface off-market opportunities, help you present a competitive offer, and guide you through the due diligence questions specific to this price range that a generalist agent may not think to raise.
Read answerRelated Articles
Moving from a starter home into the $1M–$3M tier changes almost everything about how you search, finance, and compete — even for buyers who've purchased before. Here's what's genuinely different at this level, and how to navigate it with confidence the first time.
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