Contracts (alternative)
A Maryland buyer's offer states 'purchase price $350,000, all cash, no contingencies.' This offer is:
AInvalid without contingencies
BA clean offer that may be very attractive to sellers as there are no conditions to satisfaction✓ Correct
CIllegal under Maryland law
DAutomatically accepted by the MLS
Explanation
An all-cash offer with no contingencies is typically very attractive to sellers because it is not subject to financing approval, appraisal, or other conditions that might cause a transaction to fail.
Related Maryland Contracts (alternative) Questions
- Under Maryland law, a listing agreement that has no stated expiration date is:
- In Maryland, consideration in a real estate contract can be:
- In Maryland, a 'purchase and sale agreement' is essentially the same as a:
- In Maryland, a novation in a real estate contract occurs when:
- In Maryland, earnest money forfeited by a defaulting buyer typically goes to:
- In Maryland, a seller who accepts two offers on the same property simultaneously has:
- A Maryland purchase agreement that includes a survey contingency allows the buyer to review the property survey and:
- A Maryland seller-provided disclosure form that contains material misrepresentations gives the buyer the right to:
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