Under TREC rules, a buyer's agent receives a buyer's earnest money check made payable to the listing broker's brokerage. Under TREC rules, what should the buyer's agent do?
Correct Answer
D) Deliver the check promptly to the listing broker or the party designated in the contract to receive the earnest money
Under TREC rules, the earnest money should be delivered to the party designated in the contract to receive it. If the check is made payable to the listing broker's brokerage, it should be delivered to that broker or the designated escrow agent as specified in the contract.
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