Contracts
What is an 'inspection contingency' in a Delaware purchase contract, and who typically selects the inspector?
AA contingency allowing only the seller to conduct a home inspection
BA contingency giving the buyer a specified period to conduct inspections; the buyer typically selects a qualified home inspector✓ Correct
CAn inspection conducted by the lender's appraiser
DA required state inspection conducted by the county building department
Explanation
An inspection contingency gives the buyer a specified number of days to conduct a home inspection by a qualified inspector of the buyer's choice. The buyer may request repairs, credits, or exit the contract based on inspection findings.
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