Florida Real Estate Broker ExaminationReal Estate Brokerage ManagementMedium
A Florida real estate broker received an earnest money deposit of $5,000 from a buyer on Monday at 2:00 PM. The broker deposited the funds into their escrow account on Wednesday morning. On Thursday, the broker received a written offer from the seller to purchase the property. What is the deadline for the broker to deliver a copy of the written offer to the buyer?
- AWithin 24 hours of receiving the offer from the seller.
- BUpon acceptance of the offer by the buyer.
- CImmediately upon receipt of the offer from the seller.
- DWithin 48 hours of receiving the offer from the seller.
Show answer & explanationAnswer & explanation
Correct answer: C. Immediately upon receipt of the offer from the seller.
Florida law requires brokers to deliver all offers and counter-offers to their principals (buyers or sellers) immediately. There is no specific time frame like 24 or 48 hours; 'immediately' means without unreasonable delay.
Why the other options are wrong
- A. This option is incorrect; 24 hours is not the standard for offer delivery.
- B. This option is incorrect; the offer must be delivered before acceptance to allow the buyer to review and decide.
- D. This option is incorrect; 48 hours is not the standard for offer delivery.
Offer Delivery Deadline
Florida real estate brokers must deliver all offers and counter-offers to their principals immediately upon receipt.
- Applies to both buyers and sellers.
- No specific hourly deadline, but 'without unreasonable delay'.
- Ensures principals are promptly informed to make decisions.
Memory trick: Offers fly, no time to lie, deliver immediately, don't deny.