Contracts
A purchase agreement includes a 'buyer's walk-through' provision allowing inspection shortly before closing. The purpose of this is to:
AAllow the buyer to renegotiate the price
BVerify the property is in the same condition as when the contract was signed and seller has completed agreed repairs✓ Correct
CAllow the buyer to add personal property to the contract
DGive the buyer a chance to rescind without penalty
Explanation
The final walkthrough allows the buyer to confirm the property's condition has not changed since contract signing and that any agreed-upon repairs have been completed.
Related Alabama Contracts Questions
- Mutual assent in an Alabama real estate contract means:
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- Which type of listing agreement gives the broker the exclusive right to sell, meaning the broker earns commission regardless of who sells the property?
- In Alabama, what is the effect of a counteroffer on the original offer?
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- Which of the following BEST describes 'rescission' of a contract?
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