After and offer is accepted the buyer's $5,000 earnest money check is deposited into the broker's designated trust account. The buyer needs $250 of the deposited funds to pay for the termite inspection. Can the broker pay for the termite inspection from the deposited funds?
A. No, the trust can only be applied towards the purchase price.
B. No, funds in a designated trust account can only be disbursed at closing.
C. Yes, upon securing a written agreement signed by the buyer.
D. Yes, upon securing a written agreement signed by all parties having an interest in the trust funds.
Answer: D. Yes, upon securing a written agreement signed by all parties having an interest in the trust funds.
Business
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