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When buyers cancel their real estate deals sellers may sue for breach of contract and monetary damages Specific performance may also be a legal remedy for a property seller if a buyer backs out of the deal.

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In fact, this is how contingencies often play out.

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If arbitration is agreed upon by the parties, the decision of the arbitrator will be binding on both parties.

Having graduated from law school I can tell you there are certainly limits to what an attorney can write in an enforceable contract with respect to earnest money.

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