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.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
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