There are still more DRE audit violations found regarding Trust Accounts than in any other single area. Brokers who don’t think they need a Trust Account can be in violation without even knowing it!
Here are some recent examples I’ve personally seen of Brokers who have had to defend themselves from accusations by the DRE:
Real Estate Listings and Sales
· Not keeping a Trust Log for Deposit Checks;
· Not having the Trust Log in proper, chronological order;
· Not having a Deposit Check when the Purchase Offer stated that the Buyer had given a Deposit Check to the Agent;
· Not getting the Deposit Check to the Escrow Company within three (3) days of the acceptance of the offer (or per the contract).
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