The buyer has locked up the property during this contingency period, usually for financing, home inspections, appraisal, etc. The seller’s only recourse if the buyer changes his mind is to retain the EMD and potentially to sue for specific performance for other damages.
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[…] statement here that we have rising inventory and moderating price conditions. That’s bringing back home buyers to the market because, after all, the contract signs rose eight percent from July to August […]