Contracts
A Louisiana buyer includes an 'inspection contingency' in their offer. If the home inspection reveals significant defects, the buyer may:
AOnly cancel the contract if defects exceed a specific dollar amount
BRequest repairs, negotiate a price reduction, accept the property as-is, or cancel the contract and recover the earnest money✓ Correct
CDemand the seller make all requested repairs without negotiation
DExtend the closing date indefinitely while negotiating repairs
Explanation
An inspection contingency gives the buyer multiple options upon discovering defects: request specific repairs, negotiate a price reduction (seller credit), accept the property as-is, or cancel the contract and recover the earnest money deposit, depending on the contingency language.
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