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If a condominium buyer requests a refund of the earnest money deposit during the three-day cooling off period and the seller objects, the broker is required to notify the FREC of conflicting demands.
If the closing date for a transaction has passed and the parties have not agreed on whom the broker should pay, the situation is called “conflicting demands.”
Which is correct about a buyer’s good faith deposit that is being held in the broker’s trust account?
Which is NOT one of the FREC settlement procedures in case both parties make conflicting demands for a broker’s trust deposit?
Which is correct about FREC settlement procedures?
Which is NOT one of the three exceptions to the conflicting demands requirements that exempt the broker from notifying the FREC?