3,986,308
No software...I use hard copy. Can't lose it if the computer goes BURPPP!
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Tammy Lankford,
Eatonton, GA
4,272,934
We have the closing company hold the earnest money in a non-interest bearing account. (Company Policy)
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Chris and Dick Dovorany
Naples, FL
443,220
I don't touch earnest money. It goes directly to escrow. Number one reason California Brokers lose their license is over trust fund issues.
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Chris and Dick Dovorany
Naples, FL
4,800,132
4,905,862
In TX only the borker can have a trust account. Most brokers wil not accept EM, and it is sent to the title company.
3,168,134
I do and I don't. Old school with a journal. I am not a fan of putting other people's information on a computer. Takes just about 5 minutes of my time a day. Wouldn't take any less if it were on the computer. (I am the broker)
5,879,125
All my EM deposits are held by the title company, but being the employing broker, have to keep a log of all deposits.
634,532
The escrow company takes all our EMDs. We occasionally hold an uncashed check but that doesn't need accounting.
7,870,198
The broker has an escrow account to hold deposits. Software will vary by company. A manual accounting system does work.
1,466,257
Jack Lewitz I closed out my Escrow Account, but when I had one I used QuickBooks to keep track. It is customary here for Brokers to hold EMD's in an Escrow Account. State laws dictates, the money has to be deposited within 5 business days.
1,242,204
One person thought they leave the emd with the realtors name so he can run off with it.....Ha ha
699,277
An agent holding ernest money? No way. The broker doesn't even do that. Only title companies and attorneys.
292,685
Cindy I should clarify that I have escrow account without checking but was interested what software they use