Legal Question in Real Estate Law in Indiana

I live in Newburgh Indiana and recently tried to sell my house on my own. I signed a purchase agreement with a potential buyer. She gave me $500 earnest money. The contract stated that we would close on or before December 23rd 2009. There was a default clause that stated "If buyer defaults under this contract, any and all monies deposited by buyer shall be retained by seller as full liquidated damages." At the bottom of the contract she wrote subject to appraisal, subject to clear title, contingent on home inspection and contingent upon final divorce hearing date. She is in the process of getting divorced and could not close until she was divorced. She claims the contingency entitles her to her earnest money but I think the contract ended December 23rd along with the contingency and I am entitled to the $500 for damages. She is threatening to take me to court and I would like to know which one of us has legal standing. Thanks

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