Contracts
The Colorado Contract to Buy and Sell's 'Appraisal Condition' (Appraisal Objection Deadline) allows the buyer to terminate if:
AThe appraisal is higher than the purchase price
BThe appraised value is less than the purchase price and the buyer timely objects✓ Correct
CThe appraiser is not locally licensed
DThe appraisal takes longer than 7 business days
Explanation
The appraisal condition in the Colorado Contract allows the buyer to terminate and receive an earnest money refund if the property appraises below the purchase price and the buyer submits a timely written objection by the Appraisal Objection Deadline.
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