Contracts
A 'release of contingency' in a Georgia Purchase and Sale Agreement means the buyer:
AIs releasing the seller from their obligations
BIs waiving a specific contingency and agreeing to proceed without that protection✓ Correct
CIs released from paying earnest money
DIs releasing the broker from their duties
Explanation
When a buyer releases a contingency (such as financing or inspection), they are waiving the protection of that contingency and agreeing to proceed with the purchase even if the contingent condition is not fully met.
Related Georgia Contracts Questions
- What distinguishes an 'Exclusive Right to Sell' listing from an 'Exclusive Agency' listing?
- The Georgia Association of REALTORS (GAR) Purchase and Sale Agreement is an example of a:
- Specific performance is a remedy in real estate where the court orders:
- An option contract in Georgia gives the optionee the:
- A homebuilder's standard contract for the purchase of a new construction home typically:
- A 'material breach' of a real estate contract is one that:
- In Georgia, what is the effect of adding a 'time is of the essence' clause to a real estate contract?
- An 'as-is' clause in a Georgia real estate contract means:
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →