In a Ocala transaction, a buyer wants the Florida rule on disputed earnest money. Which statement is correct?
Correct Answer
A) A buyer default or seller default does not automatically answer who gets the earnest money; the contract and escrow rules must be applied.
A buyer default or seller default does not automatically answer who gets the earnest money; the contract and escrow rules must be applied. This follows Current Florida residential contract practice; Rule 61J2-14.008, F.A.C.; FREC Real Estate Law Book.
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A Florida broker discovers that earnest money deposited by a buyer was obtained through fraudulent means. The transaction has not yet closed, but the seller is unaware of the fraud. What should the broker do?
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Which answer most accurately states the Florida rule for disputed earnest money?