EstatePass
Brokerage Activities ProceduresEscrow_trust_accountsMEDIUM

Earnest money deposits in Florida must be placed in escrow within:

Correct Answer

B) 3 business days

FREC rules require earnest money to be deposited into escrow within 3 business days of receipt.

Answer Options
A
24 hours
B
3 business days
C
5 business days
D
As specified in the contract
Video Explanation3 min
Audio Lesson3 min
Study Infographics
Study card infographic for: Earnest money deposits in Florida must be placed in escrow within:
Download

Why This Is the Correct Answer

Sign up free to unlock full analysis

Why the Other Options Are Wrong

Sign up free to unlock full analysis

Deep Analysis of This Brokerage Activities Procedures Question

Sign up free to unlock full analysis

Background Knowledge for Brokerage Activities Procedures

Sign up free to unlock full analysis
Sign up free to unlock full analysis

Real World Application in Brokerage Activities Procedures

Sign up free to unlock full analysis

Common Mistakes to Avoid on Brokerage Activities Procedures Questions

Sign up free to unlock full analysis

Related Topics & Key Terms

Related Topics:

florida-real-estate-commission-rulesescrow-account-proceduresreal-estate-transaction-timelines

Key Terms:

FREC Rule 61J2-14.010earnest money escrowFlorida real estate3 business daysbroker compliance
Was this explanation helpful?

More Brokerage Activities Procedures Questions

People Also Study

Practice More Questions

Access 2,000+ practice questions and pass your real estate exam.

Start Practicing