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When a buyer signs an offer to purchase a property, the broker receives earnest money from the purchaser amounting to 5 or 10 percent of

When a buyer signs an offer to purchase a property, the broker receives earnest money from the purchaser amounting to 5 or 10 percent of the purchase price. Most states have laws requiring brokers to maintain a separate account for earnest money deposits more commonly referred to as a(n)

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