Agency
A salesperson in New Mexico who receives an earnest money deposit must turn it over to the qualifying broker:
AWithin 10 business days
BAt the closing table
CPromptly, per NMREC rules✓ Correct
DOnly after the offer is accepted
Explanation
NMREC rules require that earnest money deposits be turned over to the qualifying broker promptly. The qualifying broker is responsible for proper handling and depositing of the funds.
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