Contracts
In Oklahoma, the earnest money in a real estate transaction is:
AAlways forfeited to the seller if the buyer backs out for any reason
BA deposit that demonstrates the buyer's good faith; its disposition upon contract failure depends on the contract terms and circumstances of the default✓ Correct
CPaid directly to the listing agent at signing
DApplied only toward the agent's commission
Explanation
Earnest money is a good faith deposit held in escrow. If the buyer defaults without a valid contingency excuse, the seller may be entitled to it as liquidated damages.
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