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Risk Management - Escrow Deposit Receipt

Friday, December 28, 2012  
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»A common mistake that licensees make is writing on the sales contract that a deposit has been received when it has not; this may be in violation of Florida law by the Florida Real Estate Commission.

Be advised that escrow checks must be turned into the escrow agent by a licensee within 24 business hours.

Risk Management Tips of the Week are provided by the ORRA Risk Management Subcommittee as a service to ORRA members. The tips are not a substitute for individual legal consultation. Tips should not be relied upon in specific situations without consulting a real estate attorney.

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