Contracts
A Connecticut purchase agreement includes a mortgage contingency. If the buyer cannot obtain financing, the buyer may:
ASue the seller for specific performance
BVoid the contract and receive the earnest money back✓ Correct
CBe forced to pay the seller liquidated damages
DAssign the contract to another buyer
Explanation
A financing contingency allows the buyer to void the contract and recover the earnest money deposit if they cannot obtain the specified mortgage within the contingency period.
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