Note that the deposit is not controlled by the real estate agent. It is held in escrow by a third party, usually the title company. The seller is rarely allowed to keep the deposit. But the inspection contingency should specify the conditions under which the deposit is returned or forfeited. Sometimes the seller can correct small defects in the property and enforce the sales contract. But, if the agent is asking to extend the inspection contingency, I would definitely refuse to sign the addendum.
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