Contracts
In Colorado, the earnest money deposit in the CBS contract is held by whom by default?
AA. The buyer's lender
BB. The listing broker or a title company, as specified in the contract✓ Correct
CC. The seller directly
DD. The Colorado Division of Real Estate
Explanation
In the Colorado CBS contract, the earnest money is held in a trust account by the party designated in the contract — typically the listing broker or a title/escrow company. The holder is responsible for disbursing the funds according to the contract terms or mutual written instructions.
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