While a transaction is in escrow, a property suffers $10,000 in fire damage. Per the CAR purchase contract and receipt for deposit:
a. the seller may keep the entire deposit
b. the buyer is entitled to the return of the entire deposit
c. the broker is entitled to the entire deposit
d. one-half the buyer's deposit will be retained by the broker
Answer: b. the buyer is entitled to the return of the entire deposit
Business
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