Contracts
A Louisiana buyer submits an offer with a 5-day inspection contingency. On day 4, the buyer's inspector finds major foundation issues. The buyer should:
AWait until after closing to assess the damage
BNotify the seller of the inspection results and exercise the contingency to request repairs, a price reduction, or terminate the contract before the contingency expires✓ Correct
CAccept the property anyway to avoid losing the earnest money
DSecretly repair the foundation before closing
Explanation
The buyer must act within the contingency period. Notification of inspection results and exercise of the contingency options must occur before the contingency expires — allowing the buyer to request repairs, a credit, or termination.
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