Contracts
In Maryland, a buyer who defaults on a purchase contract without justification may:
AAlways recover their earnest money
BForfeit their earnest money as liquidated damages and potentially face a lawsuit for additional damages✓ Correct
COnly lose the inspection fee
DBe reported to MREC
Explanation
A defaulting buyer in Maryland may forfeit their earnest money as liquidated damages. The seller may also sue for additional actual damages depending on the contract terms.
Related Maryland Contracts Questions
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