Contracts
A Missouri buyer's contract contains an inspection contingency. If the inspection reveals major foundation issues and the buyer wants to exit, the buyer:
ACan exit only if the seller refuses all repairs
BCan exit within the contingency period and receive earnest money back✓ Correct
CMust proceed since the contract is binding
DCan exit only after 30 days notice
Explanation
An inspection contingency protects the buyer's right to exit the contract within the specified period if the inspection reveals unacceptable conditions. Earnest money is returned if the buyer exercises this contingency properly.
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