This case examines an escrow case where the agent neglected to check certain boxes on the contract. While this does not void the contract, it does create an escrow violation for the real estate licensee. It highlights the importance of verifying the completeness of contracts and paying attention to details.

This case looks to an escrow violation, where the agent failed to timely deposit the EMD check by one day. Even a late deposit of only one day is an escrow violation. However, the brokerage firm had clear policies regarding escrow and the agent took full responsibility for his actions, which the board took into consideration.

This case study highlights the importance of following the real estate regulations when holding earnest money deposits.

This case again looks at an escrow violation, where the agent provided the check to the brokerage but not the ratified contract, and due to firm policies, the check was not deposited in a timely manner. Further, the agent failed to inform the parties that the earnest money deposit was not deposited.

This case highlights not only the importance of adhering to the Board’s regulations through actions such as depositing the earnest money deposit in a timely manner and notifying all parties of material changes to the transaction, but also the importance of paying attention to detail and keeping up to date on your broker’s policies and the status of the transaction.

This case highlights the importance of accurately representing the status of the Earnest Money Deposit when holding escrow for a transaction. In addition, it shows the importance of honesty throughout a Board investigation.

Escrow violations are some of the most common violations that come before the Virginia Real Estate Board. This case demonstrates the importance of adhering to the terms of the real estate contract and making timely deposits of the Earnest Money Deposit as required by the contract.