Illinois Real Estate Exam

Category - Real Estate

The following could be used by the buyer as earnest money deposit in purchasing real property:
  1. A promissory note secured by a deed of trust
  2. A postdated check
  3. An unsecured promissory note
  4. All of the above
Explanation
Answer: D. This deposit can be in any form but must be disclosed to the seller prior to the seller accepting the offer.
Was this helpful? Upvote!
Login to contribute your own answer or details

Top questions

Related questions

Most popular on PracticeQuiz