Contracts
A purchase and sale agreement in Illinois that has an inspection contingency typically allows the buyer to:
ADemand unlimited repairs of any kind before proceeding
BTerminate or negotiate repairs based on findings from the professional inspection✓ Correct
CExtend the closing date indefinitely if repairs are needed
DSue the seller for non-disclosure without conducting an inspection
Explanation
An inspection contingency typically allows the buyer to have the property professionally inspected and then either proceed as-is, terminate the contract, or negotiate with the seller for repairs or a price reduction based on the inspector's findings. The specific rights and timeframes are negotiated in the contract.
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