Contracts
What is an automatic extension clause in a Nevada purchase contract?
AA clause extending the listing period automatically
BA provision automatically extending the closing date for a specified period if certain conditions (like a loan funding delay) have not been met by the original closing date✓ Correct
CA clause extending the inspection period if issues are found
DAn NRED-required provision for distressed properties
Explanation
An automatic extension clause extends the closing date by a specified number of days if the loan is not funded due to lender delays or other specified circumstances. This prevents technical default for minor timing issues and is commonly included in Nevada purchase contracts.
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