Contracts
In South Carolina, 'earnest money' in a real estate transaction serves primarily as:
AThe buyer's down payment to the lender
BEvidence of the buyer's good faith and commitment to complete the purchase✓ Correct
CPayment for the home inspection
DThe seller's compensation if the buyer defaults
Explanation
Earnest money demonstrates the buyer's good faith and intention to complete the transaction. While it may be forfeited upon buyer default, its primary purpose is to show commitment.
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