Contracts
In Virginia, earnest money held by a broker must be placed in an escrow account within:
A24 hours of receipt
B3 business days of contract ratification✓ Correct
C5 business days of contract ratification
D7 calendar days of receipt
Explanation
Virginia requires that earnest money deposits be deposited into a federally insured escrow account within 3 business days of contract ratification.
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