Contracts (alternative)
A Maryland buyer includes a home sale contingency in an offer. This means the contract is contingent upon:
AThe buyer getting a job in Maryland
BThe successful sale of the buyer's current home✓ Correct
CThe seller purchasing a new home first
DA satisfactory property inspection only
Explanation
A home sale contingency makes the purchase contract contingent upon the buyer successfully closing the sale of their current home within the specified time period.
Related Maryland Contracts (alternative) Questions
- In Maryland, liquidated damages in a real estate contract represent:
- A Maryland buyer who cannot close due to genuine inability to obtain financing despite good faith efforts, and who has a proper financing contingency, is entitled to:
- In Maryland, the 'Doctrine of Impossibility' may excuse a party's contractual performance when:
- A Maryland contract provides for a $5,000 home inspection contingency repair credit in lieu of repairs. At closing, this amount appears as:
- Under Maryland law, a counteroffer to a real estate purchase contract:
- In Maryland, the primary purpose of the settlement statement (Closing Disclosure or HUD-1) is to:
- In Maryland, a 'purchase and sale agreement' is essentially the same as a:
- In Maryland, a contract 'subject to the sale of the buyer's home' is an example of a:
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