Contracts
A Pennsylvania earnest money deposit is typically held in escrow by:
AThe buyer's lender until closing
BThe listing broker or a title company in a trust account✓ Correct
CThe county recorder of deeds
DPREC's consumer protection fund
Explanation
Pennsylvania earnest money deposits are typically held in trust by the listing broker (in their escrow account) or by a title company. Under RELRA, the broker must deposit earnest money in a separate escrow account within 3 banking days of the fully executed agreement.
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