Contracts
A North Dakota purchase agreement contingency that protects the buyer if they cannot obtain financing is called a:
AHome inspection contingency
BFinancing contingency (mortgage contingency)✓ Correct
CTitle contingency
DAppraisal contingency
Explanation
A financing contingency (also called a mortgage contingency) protects the buyer by allowing them to exit the contract without penalty if they are unable to obtain satisfactory financing within the specified time period.
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