Contracts
What is a 'contingency removal' in an Idaho purchase contract?
ACanceling the purchase contract entirely
BThe formal notice by a buyer (or seller) that a contingency condition has been satisfied and they are proceeding with the purchase✓ Correct
CA request for an extension of the contingency period
DThe seller's right to cancel due to a higher offer
Explanation
Contingency removal is the process by which a party formally notifies the other party that a contingency condition (inspection, financing, appraisal, etc.) has been met, and the party is committed to proceeding with the transaction.
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