Contracts
In Arizona, when a buyer submits an earnest money check but instructs the broker to hold it without cashing it, the broker should:
AHold the check uncashed per buyer's instructions✓ Correct
BDeposit it immediately regardless of instructions
CReturn it to the buyer
DConsult the ADRE before acting
Explanation
In Arizona, if both parties agree and the buyer requests the broker to hold a check without depositing it, the broker may do so. However, the broker must disclose this arrangement to the seller.
Related Arizona Contracts Questions
- Under Arizona law, a seller must respond to a buyer's repair request within how many days under the standard AAR purchase contract?
- An offer to purchase that includes a deadline of 'accepted by 5 PM today' and is not accepted by that time:
- The covenant of quiet enjoyment in an Arizona lease means:
- The purpose of the 'buyer's walk-through inspection' in an Arizona residential closing is to:
- An Arizona real estate purchase contract that is 'executory' means:
- An Arizona purchase contract signed on December 26 has a 10-business-day inspection period. In Arizona, which days are typically NOT counted as business days?
- In Arizona, 'constructive eviction' requires the tenant to demonstrate that the landlord's conduct:
- In an Arizona purchase contract, the phrase 'time is of the essence' applies to:
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →