Contracts
In Missouri, a contract contingency for a home inspection allows the buyer to:
ACancel the purchase for any reason within the contingency period
BOnly cancel if the inspection reveals major structural defects
CRequest repairs; if refused, cancel and receive earnest money back
DBoth A and C depending on contingency language✓ Correct
Explanation
Inspection contingency language varies. Some provide a 'walkaway right' for any reason; others only allow cancellation if repair requests are not satisfied. The specific language in the contract governs.
Related Missouri Contracts Questions
- An 'as-is' clause in a Missouri listing does NOT relieve the seller of the obligation to:
- In Missouri, an offer to purchase a property for $250,000 is valid only if it contains all of the following EXCEPT:
- A Missouri purchase contract accepted by the seller becomes binding when:
- A Missouri installment land contract (contract for deed) requires the seller to deliver a deed when:
- The Missouri seller's disclosure statement must be provided to the buyer:
- A Missouri purchase contract contains an escalation clause that says the buyer will pay $2,000 more than any competing bona fide offer up to $350,000. A competing offer of $330,000 exists. What does the buyer pay?
- In Missouri, an 'assignment of contract' in real estate allows:
- A Missouri lease's 'quiet enjoyment' covenant guarantees the tenant:
Practice More Missouri Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Missouri Quiz →