Contracts
In New Mexico, when a contingency is waived by the buyer, it means:
AThe contingency period is extended
BThe buyer gives up their right to void the contract based on that contingency and must proceed✓ Correct
CThe seller must waive a corresponding contingency
DThe earnest money becomes non-refundable for all purposes
Explanation
Waiving a contingency means the buyer removes the condition from the contract. The buyer can no longer use that contingency as a reason to exit the contract—they are committed to proceeding regardless of the outcome.
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