Contracts
In Louisiana, when a seller accepts an offer contingent on the buyer's home sale, the seller should be aware that:
AThis contingency eliminates all risk of the transaction failing
BThe transaction will not close if the buyer cannot sell their existing home, leaving the seller's property off the market during the contingency period✓ Correct
CThe buyer is guaranteed to sell their home within 30 days
DThe seller is legally prohibited from accepting other offers
Explanation
A home sale contingency creates significant risk for the seller — their property is effectively taken off the market while waiting for the buyer's home to sell. If the buyer's home doesn't sell, the transaction fails.
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