Contracts
A contingency in a purchase contract allows a buyer to:
ACancel the contract at any time for any reason
BCancel the contract and receive a refund of earnest money if a specified condition is not met✓ Correct
CRenegotiate the price after closing
DForce the seller to make repairs before closing
Explanation
A contingency is a condition that must be met for the contract to proceed. If the condition is not met (e.g., the buyer cannot obtain financing), the buyer may cancel and recover their earnest money.
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