Oregon License Law
Which of the following best describes 'earnest money' under Oregon practice?
AA non-refundable fee paid to the listing broker at time of offer
BA deposit made by the buyer demonstrating good faith intent to purchase✓ Correct
CA required payment to OREA for transaction recording
DA payment to the title company to open escrow
Explanation
Earnest money is a deposit made by a buyer accompanying an offer to demonstrate good faith and serious intent to purchase the property. It is typically held in a trust account and applied toward the purchase price at closing.
Related Oregon Oregon License Law Questions
- An Oregon licensee who discovers their principal broker is converting client trust funds to personal use should:
- In Oregon, a newly licensed real estate broker must work under the supervision of a principal broker for at least:
- To maintain an Oregon real estate broker license, a licensee must be affiliated with:
- The Oregon real estate broker licensing exam contains how many questions, and what is the minimum passing score?
- The Oregon Real Estate Agency Real Estate License Law is codified primarily under:
- Oregon's real estate license law requires a broker to disclose their licensed status when:
- An Oregon real estate broker who wants to work independently without affiliation with a principal broker must:
- A real estate licensee in Oregon who sells their own personal residence:
Practice More Oregon Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oregon Quiz →