Contracts
A Michigan buyer's inspection contingency allows the buyer to:
ADemand any repair at any cost from the seller
BVoid the contract or negotiate repairs/credits if the inspection reveals unsatisfactory conditions✓ Correct
CExtend the closing date indefinitely
DReduce the purchase price by 10% automatically if defects are found
Explanation
An inspection contingency gives the buyer the right to have the property inspected and, if results are unsatisfactory, to void the contract (recovering earnest money) or negotiate with the seller for repairs, credits, or price reductions.
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