Question Details

Julie Stewart, Real Estate Pro in Texas

how long does a realtor have to deposit earnest money?

Asked by Julie Stewart, Texas Thu Feb 14, 2008

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In California, the broker is required to deposit the check into a trust fund account (read "neutral" - could be escrow account) within 3 days of the offer being accepted. However there are exceptions. For example, if there are written directions from the offeree stating otherwise, the broker is obligated to those directions. Best to check with your local laws.

CJ
Web Reference: http://talktocj.com/?p=15
1 vote Thank Flag Link Thu Feb 14, 2008
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