News & Information: Risk Management Tips

Risk Management - Escrow Deposit Receipt

Friday, December 28, 2012  
Share |

»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.

ORRA Partners
ORRA would like to thank our Partners for their continuing support.
View the full list of ORRA Partners.