Contracts
Under Colorado Commission rules, a buyer's earnest money check is typically deposited into trust:
AWithin 30 days of contract acceptance
BWithin 3 business days of receipt, unless the contract specifies otherwise✓ Correct
COnly after the inspection period ends
DAt the time of closing only
Explanation
Colorado Commission rules require that earnest money be deposited into the broker's trust account within 3 business days of receipt, unless the contract provides otherwise. Delays in depositing trust funds can be a violation.
Related Colorado Contracts Questions
- When a Colorado buyer exercises the 'Termination Option' in the Contract to Buy and Sell, the buyer:
- In Colorado, 'novation' in a real estate contract occurs when:
- The Colorado Contract to Buy and Sell includes a 'title objection deadline.' What must the buyer do by this date?
- In Colorado, a contract that violates a statute or public policy is:
- In Colorado real estate contracts, an 'addendum' is best described as:
- In Colorado, a 'right of first refusal' in a real estate contract means:
- In Colorado, an earnest money deposit in a real estate contract is best described as:
- In the Colorado Contract to Buy and Sell, the 'closing date' refers to:
Practice More Colorado Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Colorado Quiz →