Contracts
Under the FAR-BAR 'AS IS' Residential Contract, what is the buyer's primary remedy if the seller fails to make required repairs agreed upon prior to closing?
ABuyer can cancel the contract and receive a refund of the deposit✓ Correct
BBuyer must proceed to closing regardless
CBuyer can sue for specific performance only
DBuyer must renegotiate the price
Explanation
Under the FAR-BAR AS IS contract, if the seller agreed to specific repairs as a condition and fails to complete them, the buyer may cancel the contract and receive a full refund of the earnest money deposit.
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