Contracts
Which clause in a Minnesota purchase agreement allows the buyer to back out if they cannot obtain financing?
AInspection contingency
BFinancing contingency (mortgage contingency)✓ Correct
CAppraisal contingency
DTitle contingency
Explanation
A financing contingency (mortgage contingency) allows the buyer to terminate the contract and recover their earnest money if they are unable to obtain satisfactory financing within the specified period.
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