Contracts
Under the Arizona AAR contract, if the seller fails to close escrow on the scheduled closing date through no fault of the buyer, the buyer may:
AImmediately sue the seller for damages without notice
BCancel the contract and receive a full earnest money refund, or pursue other remedies including specific performance✓ Correct
COnly wait for the seller to reschedule closing
DAccept a new closing date without any right to cancel
Explanation
If a seller fails to perform on the closing date, the buyer typically has the right to cancel the contract and recover their earnest money, or pursue legal remedies including specific performance or damages.
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