In cases of default, breaches, and failure to complete the purchase, principals in an Arizona real estate transaction may exercise which method of recourse?

In Arizona real estate transactions, when a party defaults or breaches the contract, the nonbreaching party has several options for recourse. Selecting “all of these” as the answer is correct because it encompasses the range of remedies available to the nonbreaching party.

The nonbreaching party may indeed force the buyer to complete the transaction, which is often pursued through a legal action known as specific performance. This is a court order requiring the breaching party to fulfill their obligations as outlined in the contract, specifically completing the purchase in this context.

Additionally, the nonbreaching party has the right to retain the earnest deposit. This is typically stipulated in the purchase agreement and serves as a form of liquidated damages meant to compensate the seller for the time and opportunity lost due to the buyer's default.

Lastly, the nonbreaching party may choose to sue for money damages. This means that if they suffer financial losses due to the breach, they can seek compensation in court for those losses.

By encompassing all these potential recourses, the correct answer reflects the comprehensive rights and actions available to the nonbreaching party in the event of a default in a real estate transaction in Arizona.