Contracts
In Nebraska, if a buyer fails to close due to no fault of their own (e.g., lender error), the seller is typically entitled to:
ASue the buyer for the full listing price
BRetain the earnest money as liquidated damages if so specified in the contract✓ Correct
CAutomatically cancel the contract and relist the property
DSeek punitive damages in addition to the sales price
Explanation
Most Nebraska purchase agreements specify that if the buyer defaults, the seller may retain the earnest money as liquidated damages. The contract terms govern the remedy for buyer default.
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