Contracts
What is an 'inspection contingency' in a Nevada real estate purchase contract?
AA requirement that the seller hire an inspector
BA condition allowing the buyer to have the property professionally inspected and to negotiate repairs, accept the property as-is, or cancel based on findings✓ Correct
CAn automatic right to cancel for any reason
DA contingency required by Nevada law for all transactions
Explanation
An inspection contingency allows the buyer to have qualified inspectors evaluate the property's condition. Based on findings, the buyer may request repairs, accept the property, or (within the contingency period) cancel the contract and receive the return of earnest money.
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