Contracts (alternative)
In Maryland, a buyer who makes an offer 'subject to attorney review' is providing:
AAn unconditional binding offer
BAn offer that is not binding until the buyer's attorney reviews and approves it within a specified period✓ Correct
CAn offer that requires MREC review
DAn offer that automatically expires in 3 days
Explanation
An attorney review contingency makes the contract contingent on the buyer's (or seller's) attorney reviewing and approving the agreement within a specified period, allowing the attorney to request modifications.
Related Maryland Contracts (alternative) Questions
- In Maryland, an option contract typically expires if the optionee (buyer):
- A Maryland buyer who cannot attend the settlement may:
- In Maryland, a 'right of first refusal' in a lease is triggered when:
- In Maryland, a purchase contract's 'walk-through inspection' provision typically allows the buyer to:
- In Maryland, liquidated damages in a real estate contract represent:
- A Maryland buyer's offer states 'purchase price $350,000, all cash, no contingencies.' This offer is:
- A Maryland contract provides for a $5,000 home inspection contingency repair credit in lieu of repairs. At closing, this amount appears as:
- A Maryland buyer's agent who submits an offer electronically has satisfied the contract's requirement for a written agreement if:
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