Contracts
A buyer backs out of a Connecticut real estate contract just before closing with no legitimate contingency reason. The seller may legally:
AForce the buyer to buy the property in all circumstances
BKeep the earnest money deposit as liquidated damages (if the contract provides for this) and/or sue for damages✓ Correct
CSue only for lost commission
DRelist the property and keep the deposit with no other remedies
Explanation
When a buyer defaults without a valid contingency, the seller may retain the earnest money as liquidated damages (if specified in the contract) and/or sue for actual damages such as the difference in resale price.
Related Connecticut Contracts Questions
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