If a prospective home buyer simply changes his or her mind after putting up earnest money,he or she usually forfeits the money.

Question

Quizplus · Accepted Answer

This is generally true. Earnest money is put up as a way of showing commitment to the purchase of a property. If the buyer changes their mind without a valid reason, they typically forfeit the money to the seller as compensation for the time and effort spent on the transaction. However, there may be certain circumstances where the buyer can get their earnest money back, such as if the seller fails to disclose a material defect in the property.

If a Prospective Home Buyer Simply Changes His or Her