Question

on monday evening, after hte brokerage office has closed, a salesperson revieces an offer to purchase and an earnest money deposit in the form of a personal check. on wednesday, she obtains a final acceptance on the offer. when shoulld the earnest money be handed over?

Answer 1

The earnest money deposit should be handed over to the brokerage office on Monday evening, after it has closed and the salesperson receives the offer to purchase. Once the offer is accepted on Wednesday, the earnest money can then be processed and officially transferred to the seller.

Step-by-step explanation:

The earnest money deposit should be handed over to the brokerage office on Monday evening, after it has closed and the salesperson receives the offer to purchase. This is because the earnest money is a form of security or guarantee from the buyer to the seller that they are serious about the offer.

Typically, the earnest money is held in escrow by the brokerage office until the offer is accepted. Once the offer is accepted on Wednesday, the earnest money can then be processed and officially transferred to the seller.

It is important to note that the specific timeline and process may vary depending on local laws and practices, so it is always recommended to consult with the brokerage office or a real estate professional for the most accurate information.