Contracts
A Rhode Island buyer's offer is accepted, but the buyer then loses their job and can no longer qualify for financing. Which contingency protects the buyer?
AHome inspection contingency
BFinancing contingency✓ Correct
CTitle contingency
DAppraisal contingency
Explanation
A financing contingency allows the buyer to terminate the contract and recover their earnest money if they are unable to obtain the specified financing. The loss of employment affecting loan qualification would trigger this contingency.
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