Contracts (alternative)
In Maryland, earnest money in a real estate contract is typically held by:
AThe buyer's bank
BThe listing broker in their escrow account✓ Correct
CMREC directly
DThe county circuit court
Explanation
In Maryland, earnest money deposits are typically held in the listing broker's escrow (trust) account until settlement, though the parties may designate another holder.
Related Maryland Contracts (alternative) Questions
- In Maryland, consideration in a real estate contract can be:
- A Maryland new construction contract typically includes a specification sheet that:
- A Maryland purchase agreement that includes a survey contingency allows the buyer to review the property survey and:
- In Maryland, a novation in a real estate contract occurs when:
- In Maryland, a contract 'subject to the sale of the buyer's home' is an example of a:
- In Maryland, a 'subject to financing' contingency in a buyer's offer protects the buyer if:
- Under Maryland law, a real estate contract where one party was under duress when signing is:
- A Maryland real estate contract that requires one party to perform a specific act (convey title, pay the purchase price) may be enforced through:
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