Contracts
Under the standard FAR/BAR Residential Contract, if the seller defaults, the buyer's remedies include:
AOnly return of the deposit
BReturn of deposit, specific performance, or damages✓ Correct
CAutomatic award of 10% of the purchase price
DFiling a complaint with FREC
Explanation
If the seller defaults under the FAR/BAR contract, the buyer may elect to: (1) receive a return of all deposits, (2) seek specific performance compelling the seller to sell, or (3) sue for damages. These remedies are outlined in the contract's default provisions.
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