Contracts
In Ohio, when can a seller legally back out of a signed purchase contract without penalty?
AAnytime within 72 hours of signing
BOnly if a contractual contingency in the seller's favor allows it, or if the buyer has breached the contract✓ Correct
CAnytime before the buyer's loan is approved
DOnly if the home inspection reveals problems
Explanation
A seller who has signed a purchase contract is bound by its terms. The seller may withdraw only if a contingency allows it or if the buyer has defaulted.
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