Property Management
The Americans with Disabilities Act (ADA) Title III requires that existing commercial facilities:
ABe demolished and rebuilt to ADA standards
BRemove barriers to accessibility where readily achievable without undue hardship✓ Correct
CBe exempt if built before 1990
DOnly accommodate employees, not customers
Explanation
For existing commercial facilities, the ADA requires barrier removal where it is readily achievable (easily accomplished without significant difficulty or expense). New construction has more stringent requirements.
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Key Terms to Know
Earnest Money
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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