Utah License Law
When a Utah buyer cancels a transaction within the due diligence period, the earnest money is typically:
ARetained by the seller as compensation for time off market
BReturned to the buyer if they cancel within the due diligence deadline for any reason✓ Correct
CSplit equally between buyer and seller
DRetained by the brokerage for administrative costs
Explanation
The Utah Residential Purchase Contract's due diligence period allows buyers to cancel for any reason and receive a full refund of earnest money, as long as the cancellation is communicated before the due diligence deadline expires.
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