ContractsMEDIUM
In Colorado, earnest money must be deposited:
Correct Answer
B) As specified in the contract, typically within 3 days
Earnest money must be deposited according to contract terms, typically within 3 business days of contract execution.
Answer Options
A
Within 10 daysB
As specified in the contract, typically within 3 daysC
At closing onlyD
No requirementsVideo Explanation2 min
Audio Lesson2 min
Study Infographics
Why This Is the Correct Answer
Earnest money must be deposited according to contract terms, typically within 3 business days of contract execution.
Was this explanation helpful?
More Contracts Questions
An offer to purchase real estate is terminated by all of the following EXCEPT:
Kansas REALTORS provides:
Johnny purchases a house, doesn't want furniture left behind. He signs Tuesday, changes mind Thursday, calls agent to add furniture to contract. What is this?
Which of the following is required for a valid contract in California?
Alaska REALTORS provides:
- β Earnest money in Kansas must be:
- β Kansas requires disclosure of:
- β Vermont closings typically involve:
- β Pennsylvania's Real Estate Recovery Fund provides:
- β Earnest money (down payment) in NY is typically held by:
- β Oregon carbon monoxide alarm requirements:
- β Earnest money in Oregon must be:
- β Earnest money in Nevada must be:
- β In Texas, which organization creates the promulgated contract forms that licensees must use?
- β Earnest money in Vermont must be: