A broker receives an earnest money check from one of her affiliate brokers for a property...

A broker receives an earnest money check from one of her affiliate brokers for a property whose purchase offer has just been accepted by the seller. The broker must deposit the earnest money check in her trust account

A) within 3 days of the contract acceptance.
B) by the next banking day after contract acceptance.
C) within 24 hours of the contract acceptance.
D) within 48 hours of the contract acceptance.

Expert Solution

Answer - Option A

Within. 3 days of the contract acceptance

The earnest money must not be deposited in not later than 3 days from the acceptance of the offer

Rahul Sunny answered 2 years ago

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