Florida Real Estate Sales Associate Examination Content OutlineReal Estate Brokerage Activities and ProceduresMedium
A real estate sales associate receives an offer on a property listed by their broker. The offer includes a post-dated check for the earnest money deposit, dated for three days after the offer's acceptance. What is the sales associate's immediate responsibility upon receiving this offer?
- APresent the offer to the seller along with a full disclosure that the check is post-dated.
- BInform the buyer that the check must be current before presenting the offer to the seller.
- CReject the offer immediately, as post-dated checks are not permissible for earnest money.
- DHold the check until its date, then deposit it into the escrow account.
Show answer & explanationAnswer & explanation
Correct answer: A. Present the offer to the seller along with a full disclosure that the check is post-dated.
Florida law requires that all offers, regardless of their terms, must be presented to the seller. If an earnest money deposit is in the form of a post-dated check, the sales associate must disclose this fact to the seller when presenting the offer. The seller then decides whether to accept the offer with the post-dated check.
Why the other options are wrong
- B. The sales associate cannot unilaterally demand a current check; the offer must be presented as is.
- C. Rejecting an offer without the seller's instruction is a violation of fiduciary duty.
- D. Holding the check until its date before presentation is incorrect; the offer must be presented promptly upon receipt.
Post-Dated Earnest Money Check
An earnest money check dated for a future date, indicating the funds are not immediately available.
- Must be disclosed to the seller.
- Seller decides whether to accept.
- Does not invalidate the offer itself.
Memory trick: Every offer, every detail, seller's choice, no exceptions.