Contracts
In Missouri, a buyer who defaults on a real estate purchase contract by failing to close may face which remedy from the seller?
AOnly a refund of earnest money
BSpecific performance or retention of earnest money as liquidated damages, depending on contract terms✓ Correct
CCriminal prosecution
DMREC sanctions
Explanation
A Missouri seller whose buyer defaults may seek: (1) specific performance — forcing the sale to proceed, (2) damages, or (3) retain earnest money as liquidated damages if the contract permits. The available remedies depend on contract language.
Related Missouri Contracts Questions
- A Missouri land contract (contract for deed) differs from a conventional sale because:
- A Missouri buyer includes a 'survey contingency' in their offer. This protects the buyer by:
- In Missouri, a lease that contains an 'automatic renewal' clause will continue for additional terms unless the tenant provides written notice by a specific deadline. This clause is valid if:
- In Missouri, a real estate purchase contract becomes binding when:
- In Missouri, a purchase contract for a home includes a clause saying 'seller to leave the gas range.' This means the range:
- In Missouri, a contract 'subject to financing' contingency requires the buyer to:
- Under Missouri law, a 'holdover' provision in a commercial lease allows the landlord to:
- In Missouri, an offer is considered 'lapsed' when:
Practice More Missouri Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Missouri Quiz →