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A cooperating broker receives a $5,000 binder deposit from a buyer on a property listed by another brokerage. By when must the deposit be placed in the broker's escrow account?
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We’ll show you the correct answer, the Florida statute that governs it, and the specific reason most candidates miss this question.
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Sources: Florida Statute 475 · Florida Administrative Code 61J2 · Florida DBPR Candidate Information Booklet (effective January 2025).
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