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A buyer and a seller have both signed the NCAR/NCBA Offer to Purchase and Contract...

A buyer and a seller have both signed the NCAR/NCBA Offer to Purchase and Contract (Standard Form 2-T), creating a binding sales agreement. The buyer's loan is denied during the due diligence period, and they provide the proper notice to terminate the transaction. In this scenario, the buyer can receive:

A.

a refund of the due diligence fee only.

B.

a refund of the earnest money deposit only.

C.

a refund of both the due diligence fee and the earnest money deposit.

D.

no refund because the buyer terminated a valid contract.

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