Contracts
In NJ, a 'radon contingency' in a residential purchase contract allows the buyer to:
ARequire the seller to guarantee no radon will ever enter the home
BTest for radon and, if levels exceed EPA action level (4 pCi/L), negotiate remediation or terminate the contract✓ Correct
CRequest a full hazmat team be on-site during closing
DReduce the purchase price automatically
Explanation
A radon contingency permits the buyer to conduct a radon test and, if results exceed the EPA action level of 4 pCi/L, negotiate for the seller to install a mitigation system or provide a credit, or to void the contract if an agreement cannot be reached.
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