Audit memo Silver Blueprint highlights this Florida rule. In a Tallahassee transaction, a closing coordinator wants the Florida rule on conflicting demands or good-faith doubt. Which statement is correct?
Correct Answer
C) When the broker has a good-faith doubt or conflicting demands over escrow, the broker must notify FREC in writing within 15 business days.
When the broker has a good-faith doubt or conflicting demands over escrow, the broker must notify FREC in writing within 15 business days. This follows Rule 61J2-14.008, F.A.C.; F.S. § 475.25; FREC Real Estate Law Book; DBPR Bureau of Enforcement FAQs.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
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