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In Pennsylvania, earnest money deposits must be placed in escrow within:

Correct Answer

A) The end of the next business day

Pennsylvania requires earnest money to be deposited by the end of the next business day following acceptance of the agreement of sale.

Answer Options
A
The end of the next business day
B
24 hours
C
A reasonable time as agreed in writing
D
5 business days
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Related Topics & Key Terms

Related Topics:

escrow-procedures-and-requirementsreal-estate-transaction-timelinespennsylvania-real-estate-regulations

Key Terms:

earnest moneyescrow depositnext business dayPennsylvania Real Estate CommissionRELRA
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