Contracts
A New Hampshire purchase and sale agreement includes a home sale contingency. This means:
AThe seller must find a new home before the buyer can close
BThe buyer's obligation to purchase is contingent on the sale of their current home✓ Correct
CThe transaction is contingent on a home inspection only
DThe sale is contingent on the seller's approval of the buyer's financing
Explanation
A home sale contingency protects the buyer by making their obligation to purchase contingent on successfully selling their existing home, often within a specified timeframe.
Related New Hampshire Contracts Questions
- In NH, a 'lease with option to purchase' gives the tenant-buyer:
- A NH seller who agreed to leave the washer and dryer in the sale but removed them before closing has:
- The term 'closing' in a New Hampshire real estate transaction refers to:
- Mutual assent (meeting of the minds) in a New Hampshire real estate contract is established by:
- Under the statute of frauds in New Hampshire, real estate contracts must be:
- A NH buyer who misrepresents their financial qualifications in a purchase offer has committed:
- In New Hampshire, an offer to purchase becomes a binding contract when:
- A NH seller who accepts an offer but then receives a higher offer the next day should:
Practice More New Hampshire Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Hampshire Quiz →