Contracts
An Indiana buyer who includes a financing contingency in their purchase offer:
AIs required to close regardless of whether financing is obtained
BMay terminate the contract and recover their earnest money if they cannot obtain the specified financing despite good faith efforts✓ Correct
CMay only cancel within the first 3 days after signing
DMust forfeit their earnest money if they cannot secure financing
Explanation
A financing contingency protects the buyer by allowing them to cancel the contract and recover their earnest money if they cannot obtain the financing specified in the contingency, provided they made a good faith effort to secure the loan.
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