Contracts
A contingency in a real estate contract:
AMakes the contract unconditional
BIs a condition that must be met for the contract to become binding✓ Correct
CExtends the closing date automatically
DAllows the agent to collect double commission
Explanation
A contingency is a condition that must be satisfied for the contract to proceed. Common contingencies include financing, inspection, and appraisal. If a contingency is not met, the buyer can typically cancel.
Related California Contracts Questions
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