683,196
In our area it is a common practice that the Listing Agency deposits all trust account monies into our IBRETA (interest bearing real estate trust account). We have a separate Trust account from our business checking account. We have, a few times had a Title Company or Attorney hold money in escrow for monies being held for "future repairs" as agreed at a closing or if there was a repair called for by an underwriter (like a roof or painting in the winter) that could not be done prior to closing.
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Debbie Laity
Cedaredge, CO
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Les & Sarah Oswald
Eastvale, CA
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Fred Griffin Florida R...
Tallahassee, FL
683,196
We were audited the second year in business and passed with flying colors. As long as you follow the rules you are okay.
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Debbie Laity
Cedaredge, CO
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Fred Griffin Florida R...
Tallahassee, FL
3,074,289
630,351
It is the 'ESCROW' account.
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Fred Griffin Florida R...
Tallahassee, FL
4,321,985
For us, Fred, usually a bank in a joint account of both buyers and sellers.
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Fred Griffin Florida R...
Tallahassee, FL
2,234,653
I take the check right to the title company. That's how I deal.
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Fred Griffin Florida R...
Tallahassee, FL
864,758
I personally started requesting that earnest money deposits be wired directly to the escrow company. This way, my hands don't even touch it at all.
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Debbie Laity
Cedaredge, CO
2,703,207
Diana Dahlberg I have deposited them with the Title Company or Attorney for many years. The main reason being that I won't get audited by the Department of Business and Professional Regulation if I don't have an escrow account.
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Diana Dahlberg
Pleasant Prairie, WI
6,652,272
4,800,282