Contracts
A buyer makes an offer with an inspection contingency. The inspection reveals a cracked foundation. The buyer wants to withdraw. Under the contingency:
AThe buyer forfeits the deposit
BThe buyer may withdraw and receive the deposit back✓ Correct
CThe seller must make repairs
DThe broker retains the deposit as commission
Explanation
An inspection contingency allows the buyer to withdraw from the contract and receive the deposit back if the inspection reveals unsatisfactory conditions, provided the buyer acts within the contingency period.
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