Contracts
A Montana seller accepts a full-price offer but the transaction later fails because the buyer's lender requires repairs the seller refuses to make. If the contract has a financing contingency, the buyer:
AForfeits their earnest money for failing to close
BMay cancel the contract and recover their earnest money since the lender's repair requirements are outside the buyer's control✓ Correct
CMust find a different lender and proceed
DMust sue the seller for specific performance
Explanation
If the lender requires repairs the seller refuses to make, and the buyer cannot obtain financing as a result, a properly written financing contingency allows the buyer to cancel the contract and recover their earnest money, as the financing condition was not met.
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