Unless the purchase agreement or other contract states differently, an earnest money check given to a real estate licensee shall be made out to the:
A. licensee's firm, as licensed
B. closing or escrow agent
C. seller
D. appropriate multiple listing association
Answer: A. licensee's firm, as licensed
The question and answer correctly stat the law, however it is common practice for the buyer to name an escrow agent in the offer and make out the check to that person.
Business
You might also like to view...
A ________ backbone is one that runs throughout the entire enterprise
A) uniform B) distributed C) connected D) header
Business
The official way a system works as described in organizational documentation is referred to as a(n):
A) formal system. B) informal system. C) official system. D) desired system. E) primary system.
Business