Contracts
A purchase agreement includes a home inspection contingency. The buyer discovers major foundation issues. Which is the buyer's BEST option under this contingency?
AAutomatically forfeit earnest money and walk away
BRequest repairs, a price reduction, or terminate the contract within the contingency period✓ Correct
CAccept the defects and proceed without disclosure
DReport the seller to the Nebraska Real Estate Commission
Explanation
An inspection contingency allows the buyer to request repairs, negotiate a price reduction, or terminate the contract if the property condition is unacceptable, typically within a specified timeframe.
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