California Real Estate Practice Exam

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After an offer to purchase has been accepted, what should a broker do with the check?

  1. Invest it immediately

  2. Deposit it into a trust account

  3. Return it to the buyer

  4. Hand it over to the seller

The correct answer is: Deposit it into a trust account

After an offer to purchase has been accepted, the broker should deposit the check into a trust account because it ensures that the funds are secure and will only be used for the purpose of the transaction. Investing the check immediately or handing it over to the seller could potentially put the funds at risk or limit the buyer's ability to back out of the purchase. Returning the check to the buyer is also not ideal as it could cause confusion and delay in the transaction process.

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