Contracts
In New York, a real estate contract that requires the buyer to purchase 'subject to a satisfactory home inspection' gives the buyer the right to:
AWalk away from the purchase for any reason
BCancel the contract based on the results of the home inspection if specific defects are found or if the inspection results are unsatisfactory under the terms of the contingency✓ Correct
CRequire the seller to bring the property to perfect condition
DExtend the closing date indefinitely while repairs are made
Explanation
A home inspection contingency in a New York contract gives the buyer the right to cancel (or negotiate repairs or credits) based on the results of a professional home inspection. The precise rights depend on how the contingency is drafted — some allow cancellation for any unsatisfactory finding, others only for defects exceeding a specified cost threshold.
Related New York Contracts Questions
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