Putting 2nd house under contract quick question

[Aaron Cheatham]

Hello,

I'm putting my second house under contract Friday. I want to make sure this clause I have in my contract covers me FULLY if I don't end up selling the house.

Here it is:

7. DEFAULTS: If buyer defaults under this contract, any and all monies deposited by buyer(s) shall be retained by
seller as full liquidated damages. If seller defaults, buyer may pursue all remedies allowed by law and seller
agrees to be responsible for all costs incurred by buyer as a result of sellers default.

Thanks in advance for the help.