Contracts
In Maine, when a buyer includes an inspection contingency in a purchase agreement, the buyer has the right to:
ARenegotiate the price for any reason
BWithdraw from the contract if the inspection reveals unsatisfactory conditions✓ Correct
CDemand the seller make all repairs
DExtend the closing date indefinitely
Explanation
An inspection contingency allows the buyer to withdraw from the contract if the inspection reveals conditions the buyer deems unsatisfactory, protecting the buyer's earnest money.
Related Maine Contracts Questions
- In Maine, an offer that contains an 'irrevocable' period means the offeror:
- Under Maine law, when a seller accepts an offer with an inspection contingency, the buyer typically has the right to:
- A Maine real estate contract contains an 'as-is' clause. This means:
- In Maine, a 'listing agreement renewal' requires:
- Which of the following is true about an 'as-is' clause in a Maine purchase agreement?
- In Maine, an 'earnest money' deposit in a real estate contract serves as:
- In Maine, a lease for more than one year must be:
- A Maine real estate purchase agreement that lacks a specific closing date is:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →