Contracts
Under Pennsylvania law, if a buyer fails to close without legal justification, the seller's typical remedy is to:
ARetain the earnest money as liquidated damages if the contract provides for it✓ Correct
BSue the buyer's agent for negligence
CFile a complaint with PREC
DAutomatically re-list the property at a higher price
Explanation
When a buyer defaults on a Pennsylvania real estate contract, the seller may retain the earnest money deposit as liquidated damages if the contract contains such a provision. Alternatively, the seller may sue for actual damages or specific performance.
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