Contracts
A Louisiana purchase agreement includes a 'survey contingency.' This contingency allows the buyer to:
AHave the property surveyed at the seller's expense
BCancel the contract if a survey reveals boundary issues or encroachments that are unacceptable✓ Correct
CObtain a price reduction equal to the survey cost
DOnly proceed if the survey matches the legal description exactly
Explanation
A survey contingency gives the buyer the right to have the property surveyed and to cancel the contract (and recover earnest money) if the survey reveals unacceptable issues such as boundary disputes, encroachments, or discrepancies with the legal description.
Related Louisiana Contracts Questions
- In Louisiana, a 'back-up offer' is submitted while another contract is in effect. The back-up offer becomes effective when:
- A Louisiana seller includes a 'right to continue showing' clause in the accepted purchase agreement. This allows the seller to:
- A Louisiana purchase agreement is contingent upon the buyer obtaining financing at no more than 7% interest. The buyer cannot obtain financing below 7.5%. This contingency:
- A Louisiana buyer and seller execute a purchase agreement on March 1 with a closing date of April 15. On April 10, the seller informs the buyer they want to push closing to May 15. The buyer's options include:
- In Louisiana, a 'walk-through inspection' by the buyer before closing is designed to:
- In Louisiana, a 'release deed' is used to:
- In Louisiana, a contract for the sale of immovable property (real estate) must be made by:
- Under Louisiana law, a purchase agreement that contains an 'as is' clause generally means the buyer:
Practice More Louisiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Louisiana Quiz →