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13 May, 13:28

What happens if a defaulting buyer forfeits an earnest money deposit, according to the Exclusive Right-to-Sell Listing Contract?

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  1. 13 May, 15:38
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    It is negotiable according to the contract

    Explanation:

    Earnest money is a deposit made to a seller showing that the buyer has the intention of buying the house and is committed towards that decision. If the buyer defaults on this then the rest is negotiable according to the contract. This is because an Exclusive Right-to-Sell listing contract gives the rights to the broker to make the deal happen in order to earn a commission.
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