Which statement is TRUE regarding a title company holding the escrow funds?

The statement that within 10 business days after the broker requests verification of the deposit, he must provide the seller's broker with a copy of the verification is accurate. This requirement ensures clear communication and transparency in real estate transactions. When a broker requests verification of a deposit, it’s important to maintain a streamlined process where all parties are kept informed of the status of the funds. Providing this verification to the seller's broker strengthens trust and helps prevent disputes that might arise due to uncertainties regarding escrow funds.

In real estate transactions, holding escrow funds is a critical aspect that protects the interests of both buyers and sellers. The timeframe specified encourages timely actions, ensuring that neither party is left in doubt about the status of the funds. This practice is particularly important in managing transactions efficiently and effectively, fostering a smooth closing process.