Contracts
A NH purchase and sale agreement contains a contingency for the sale of the buyer's current home. If the buyer cannot sell their home in time, they typically:
AMust proceed with the purchase regardless
BMay terminate the contract without penalty if the contingency is properly invoked✓ Correct
CAutomatically receive a 60-day extension
DMust find a bridge loan to cover both properties
Explanation
A home sale contingency allows the buyer to terminate the contract and receive a refund of their earnest money deposit if they cannot sell their current home within the specified time. The buyer must properly invoke the contingency according to the contract's terms.
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