A seller accepts a buyer's purchase offer. The broker took a $4,000 deposit. The seller had agreed to pay the broker a $500 commission. If the seller instruction the broker to deposit the $4,000 in escrow, the broker should deposit:
a. $3,500 in escrow and pocket $500 as a commission
b. $4,000 in the broker's personal account until escrow closes in order to ensure payment of the commission
c. $4,000 in escrow
d. $4,000 in the broker's trust account
Answer: c. $4,000 in escrow
Business
You might also like to view...
Return on Assets = ___________
Fill in the blank(s) with the appropriate word(s).
Business
A ranking system that requires managers to rank each employee within each unit and distribute raises and bonuses accordingly is called
a. stack-ranking b. 360-degree feedback c. employee benefits d. workman's compensation
Business