We handle escrow anytime we handle money that doesn't belong to us. This can include sales contract deposits, rent, security deposits, advanced rents, or maintenance money for repairs. This course will highlight ways to handle other people's money while staying within the law and guidelines.
What you will learn:
• Understand the differences of escrow funds versus other funds
• List the options of who can hold escrow.
• Explain why a broker would or would not hold escrow.
• Utilize company money within escrow accounts.
• Explain the time requirements for escrow deposits.
• Understand the time requirements for escrow deposit receipts.
• Understand how to handle worthless checks.
• Familiarize yourself with the steps required in escrow account reconciliation.
• Utilize methods to handle discrepancies in reconciliation.
• List software options that can help in the reconciliation process.
• Know where to find monthly checklist as an aid in their reconciliation process.
• Know what to expect during an escrow audit.
1. FREC requires that licensees attend 90% of instructional class time. Physical presence is required
2. CE credit will not be awarded to students who miss more than 15 minutes of instructional time. Please allow adequate commute time. No exceptions.
3. All students MUST sign-in and out to receive CE credit.
4. Electronic note-taking is permitted on silent devices, only. Cell phone use is permitted during designated breaks.
Special Disabilities: Accommodated with advance notice.
Cancellations not received within two (2) business day prior to class start time will result in the forfeiture of the registration fee. Cancellations can be made through ORRA’s Professional Development Department at 407.513.7268 or email at email@example.com.