How long does a broker have to place a buyer's deposit check into an escrow account after an offer is accepted?

When an offer is accepted in a real estate transaction, the broker is required to act promptly in handling the buyer's deposit check. According to California law, specifically the regulations governing brokers and real estate transactions, a broker must place the deposit into an escrow account within three business days of accepting the offer. This timing is crucial as it helps to ensure that the transaction is handled in a timely and professional manner, providing security for both the buyer and the seller. By adhering to this three-day requirement, the broker demonstrates their responsibility and commitment to properly managing the funds involved in the transaction. This standard helps to maintain trust and integrity in real estate dealings.