Contracts
A Massachusetts buyer signs a Purchase and Sale Agreement with a home inspection contingency. The inspector finds the roof needs immediate replacement ($18,000). The buyer may:
AOnly accept the property as-is
BNegotiate with the seller for repairs or a price reduction, or cancel within the contingency period✓ Correct
CSue the inspector for finding defects
DAutomatically receive a price reduction equal to the repair cost
Explanation
A home inspection contingency allows the buyer to negotiate repairs, a price reduction, or a credit—or to cancel the contract and receive a deposit refund—if the inspection reveals unsatisfactory conditions within the contingency period.
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