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Under what circumstances could I lose my earnest money?
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If all contingency deadlines have passed the contract is said to have gone “hard”. This means that you as the buyer have committed to buying the property. Now for buyers it is advantageous to select liquidated damages as the sole remedy for the seller. This means that the earnest money is the only compensation the seller can seek if you decide not to go ahead with the purchase but all deadlines that would allow you to terminate the contract for have passed.
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