Breach & Remedies — Both Directions

When the BUYER defaults, the seller may keep the earnest money as liquidated damages (if the contract says so), sue for actual damages, or sue for specific performance — though forcing a buyer to buy is rare. When the SELLER defaults, the buyer's remedies are stronger: specific performance (courts force conveyance because land is unique), rescission with full refund, or damages. RESCISSION unwinds the deal and restores both parties to their starting positions. Mutual agreement can also cancel: a release or a novation substituting a new deal. Waiver: accepting late performance without protest can forfeit the right to complain about it.