Contracts
In an Indiana purchase agreement, earnest money is typically held by:
AThe seller directly
BThe listing broker or title company in an escrow account✓ Correct
CThe buyer's bank
DThe Indiana Real Estate Commission
Explanation
Earnest money in Indiana is typically deposited with the listing broker or a title company and held in an escrow account until closing.
Related Indiana Contracts Questions
- A valid Indiana purchase agreement requires all of the following EXCEPT:
- Earnest money in an Indiana real estate transaction is held in:
- A purchase agreement that contains a home sale contingency means:
- Anticipatory repudiation occurs when:
- A bilateral contract in real estate involves:
- A unilateral contract in real estate is exemplified by:
- A buyer includes an inspection contingency in their purchase offer. After the inspection, the buyer may:
- An as-is clause in a purchase contract means the seller:
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