When a buyer backs out of a home sale, the most common outcome is:

Question

Quizplus · Accepted Answer

When a buyer backs out of a home sale, the most common outcome is that the buyer gets back the deposit and the seller hopes to find another buyer. This is because the deposit is intended to be used as a form of security for the seller in case the buyer backs out. While the seller may be able to sue for damages or specific performance, it is generally easier and less costly to simply find another buyer. The broker may still expect the seller to pay the commission, but this would be outlined in the listing agreement.

When a Buyer Backs Out of a Home Sale, the Most