Contracts
A South Carolina buyer makes an offer contingent on securing financing within 21 days. If they cannot qualify after 21 days, they must:
AAutomatically receive their earnest money back
BFollow the contract's contingency termination process or waive the contingency to stay bound✓ Correct
CExtend the contingency for another 21 days
DTransfer the contract to another buyer
Explanation
The buyer must follow the contract's contingency termination process (notify in writing by the deadline) to terminate and recover earnest money. Failing to properly exercise the contingency may waive the right to terminate.
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