The buyer wrote an offer to purchase a property and gave the broker $10,000 earnest money. The offer required the seller to respond within six days. Three days later the buyer decided to rescind the offer and has asked for the earnest money to be returned. What will normally happen to the earnest money in such a situation?

This choice is incorrect because the broker's commission is generally contingent upon a successful transaction rather than merely retaining earnest money due to an offer's rescission. Earnest money is meant to assure the seller of the buyer's intent and is returned if the offer is rescinded before acceptance.

This statement misrepresents the nature of earnest money. Liquidated damages typically apply when a buyer defaults after an offer has been accepted, not when an offer is rescinded prior to acceptance. In this case, there are no damages incurred, and the earnest money should be refunded to the buyer.

This option is incorrect because a buyer can rescind an offer at any time before acceptance. The six-day timeframe is only a limit for the seller's response, not a restriction on the buyer's ability to withdraw their offer.