ContractsEASY
Earnest money in Maryland must be:
Correct Answer
B) Deposited in broker's escrow account promptly
Earnest money must be deposited in the broker's escrow account promptly after contract acceptance.
Answer Options
A
Held by sellerB
Deposited in broker's escrow account promptlyC
Given to buyerD
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Related Topics & Key Terms
Related Topics:
broker-trust-account-requirementsreal-estate-contract-fundamentalsmaryland-real-estate-regulations
Key Terms:
earnest moneyescrow accountbroker fiduciary dutyMaryland Real Estate Brokers Acttrust account
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