Contracts
A 'walk-through' or 'final inspection' before closing gives the buyer the right to:
ARenegotiate the entire contract
BVerify the property's condition has not materially changed since the inspection and that agreed repairs were made✓ Correct
CRefuse to close without additional credits
DInvite the home inspector back for a full re-inspection
Explanation
A pre-closing walk-through allows the buyer to verify the property's condition has not deteriorated since the inspection and that agreed-upon repairs have been completed. It is not another opportunity to renegotiate the contract.
People Also Study
Related Arkansas Questions
- Which clause in a purchase contract allows a seller to continue marketing the property and accept a better offer, giving the original buyer the right to remove a contingency or lose the contract?Contracts
- Which type of listing gives only one broker the right to sell, but allows the owner to sell the property themselves without paying a commission?Contracts
- Which clause in a purchase contract gives the seller the right to continue showing the property while a contingency is pending?Contracts
- A home inspection contingency typically gives the buyer the right to:Contracts
Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Study This Topic
Practice More Arkansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arkansas Quiz →