Final answer:
The Broker has the right to the earnest money under certain conditions, such as when the buyer or seller breaches the purchase agreement.
Step-by-step explanation:
The Broker has the right to any portion of the earnest money under certain conditions. One common condition is when the buyer breaches the purchase agreement and fails to fulfill their obligations. In this case, the Broker may be entitled to keep a portion of the earnest money as compensation for their time and efforts in the transaction.
Another condition is when the seller breaches the agreement and fails to transfer the property to the buyer. If the buyer chooses to terminate the agreement due to the seller's breach, the Broker may be entitled to a portion of the earnest money as well.
It's important to note that the specific conditions regarding the Broker's right to the earnest money can vary depending on the terms of the contract and applicable laws in the jurisdiction.