Contracts
An Indiana purchase agreement contains an inspection contingency allowing the buyer to request repairs within 10 days. On day 11, the buyer requests repairs. The seller may:
AAccept or reject the repair request as if it were timely
BDeclare the contingency expired and proceed to closing without repairs✓ Correct
CVoid the contract without penalty
DRenegotiate the purchase price instead
Explanation
If the buyer fails to exercise the inspection contingency within the specified time, the contingency expires. The seller is no longer obligated to respond to repair requests under that contingency.
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