Contracts
An earnest money deposit in a purchase contract is typically held by:
AThe listing broker in their operating account
BThe escrow company or broker's trust account✓ Correct
CThe seller until closing
DThe buyer's bank in a special account
Explanation
Earnest money is held in a neutral escrow account or a licensed broker's trust account, not commingled with operating funds, until the transaction closes or is cancelled.
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