Contracts
A New Mexico purchase contract includes a '10-day inspection contingency.' If the buyer finds a major defect, they may:
AOnly request repairs from the seller
BVoid the contract, request repairs, or accept the property as is within the contingency period✓ Correct
CExtend the contingency automatically for 10 more days
DRequire the seller to reduce the price by a fixed percentage
Explanation
Within an inspection contingency period, the buyer typically has the right to void the contract, request repairs or credits, or proceed as is. The options depend on the specific contract language.
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