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Seller has agreed to sell a property that has been in the family for decades. Their broker finds a buyer and they agree to close

Seller has agreed to sell a property that has been in the family for decades. Their broker finds a buyer and they agree to close 45 days after acceptance. The seller accepts a backup offer that is substantially higher than the first offer. Which of the following is the most favorable outcome for the seller if the first buyer cannot close as expected and the contract included the expression time is of the essence?

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