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Rainmaker
587,363
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

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.

Nov 24, 2014 07:25 AM
Rainmaker
587,363
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

We were audited the second year in business and passed with flying colors. As long as you follow the rules you are okay.

Nov 24, 2014 11:08 AM
Rainmaker
3,071,034
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Title & Escrow company

Jun 03, 2018 05:22 AM
Rainmaker
630,101
Ajay Pandya
e-Merge Real Estate - Columbus, OH
Realtor Ajay Pandya

It is the 'ESCROW' account.

Sep 23, 2017 10:18 PM
Ambassador
4,318,202
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

For us, Fred, usually a bank in a joint account of both buyers and sellers.

May 11, 2017 11:38 PM
Rainmaker
2,224,267
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I take the check right to the title company. That's how I deal. 

Nov 25, 2014 12:52 PM
Rainmaker
864,508
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

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. 

Nov 25, 2014 12:43 AM
Ambassador
2,613,663
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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.

Nov 24, 2014 07:58 AM
Ambassador
5,829,578
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Listing brokers trust acct.

Jun 28, 2019 11:30 PM
Rainmaker
4,799,732
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

We use an attorney.

Apr 02, 2018 05:35 AM