Who is responsible for confirming the status of an earnest money check after a contract has been signed?

The listing broker is responsible for confirming the status of an earnest money check after a contract has been signed. This responsibility falls under the duties of the broker as they act as the intermediary in real estate transactions. The listing broker ensures that all conditions of the contract are being met, including the handling of earnest money.

In this role, the broker checks that the earnest money has been properly deposited into an escrow account, which serves to protect both the buyer and the seller. By confirming the status of the earnest money, the listing broker helps facilitate a smooth transaction, ensuring that necessary funds are secure and that any current or potential issues can be addressed promptly.

Other parties involved, such as the buyer or the title company, may play roles in the transaction, but it is specifically the duty of the listing broker to maintain oversight and ensure that the earnest money is managed correctly according to the terms set forth in the purchase agreement. The principal refers to the parties involved in the contract (buyer and seller), and while they should be kept informed, it is the broker who handles these specific administrative responsibilities.