Under the Colorado Contract to Buy and Sell, the 'inspection objection' provision allows the buyer to object to conditions discovered during inspection. The seller's response options include all of the following EXCEPT:
Why Refuse to make any repairs and force the buyer to close Is Correct
Answer C: Refuse to make any repairs and force the buyer to close
Exam Tip: Contracts
Contract questions frequently test the essential elements required for a valid contract. Remember: competent parties, mutual consent, lawful object, and sufficient consideration. Watch for void vs. voidable distinctions.
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Key Terms to Know
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.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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.
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