Contracts
What is an 'inspection contingency' in a Pennsylvania Agreement of Sale and what options does it give the buyer?
AThe buyer must accept the property regardless of inspection results once the contract is signed
BThe buyer has the right to conduct inspections; if unsatisfied with the results, they may request repairs, negotiate a credit, or terminate the contract within the specified inspection period✓ Correct
CThe buyer's inspection right is limited to structural defects only
DInspection contingencies can only be waived after the inspection is completed
Explanation
Pennsylvania's standard Agreement of Sale includes an inspection contingency giving buyers the right to conduct professional inspections (home inspection, pest, radon, etc.) within a specified period.
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