ContractsMEDIUM
Earnest money (down payment) in NY is typically held by:
Correct Answer
B) The seller's attorney in escrow
The seller's attorney typically holds the contract deposit in escrow in NY.
Answer Options
A
The sellerB
The seller's attorney in escrowC
The buyer's bankD
The real estate brokerVideo Explanation3 min
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Related Topics & Key Terms
Related Topics:
new-york-real-estate-attorney-roleescrow-procedures-state-variationscontract-deposit-protection
Key Terms:
earnest moneyescrowseller's attorneycontract depositNew York closing
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