CRS - Certified Residential Specialist Practice Test
CRS Buyer Representation and Counseling 2
A first-time homebuyer asks about earnest money.
Which statement is most accurate?
Select your answer
A
Earnest money is always refundable regardless of circumstances
B
Earnest money is a good-faith deposit that may be forfeited if the buyer defaults without a valid contingency
C
Earnest money is paid directly to the seller at closing
D
Earnest money replaces the down payment
Hint
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