Contracts
In NJ, an inspection contingency in a residential contract typically allows the buyer to:
ADemand any repairs regardless of cost
BConduct a home inspection and negotiate repairs or terminate the contract if defects are unacceptable within the specified time period✓ Correct
CExtend the contract indefinitely
DConduct unlimited inspections after closing
Explanation
An inspection contingency gives the buyer the right to have the property professionally inspected and, if defects are found, to request repairs, negotiate a credit, or in some contracts, terminate the contract if the parties cannot agree on remediation.
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