Contracts
A Rhode Island purchase contract includes a home inspection contingency. What right does this give the buyer?
AThe right to demand the seller make all repairs identified in the inspection
BThe right to terminate the contract or negotiate repairs/price if the inspection reveals unsatisfactory conditions✓ Correct
CThe right to cancel the contract for any reason within the contingency period
DThe right to extend the closing indefinitely pending inspection results
Explanation
A home inspection contingency allows the buyer to have the property professionally inspected and, if unsatisfactory conditions are found, to negotiate repairs, a price reduction, or terminate the contract and recover their earnest money.
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