Contracts
A South Carolina purchase contract that includes the phrase 'subject to satisfactory inspection' means:
AThe property must pass a government inspection
BThe contract is contingent on the buyer being satisfied with a home inspection✓ Correct
CThe seller must repair all items found in the inspection
DOnly major defects terminate the contract
Explanation
A satisfactory inspection contingency allows the buyer to withdraw from the contract if the inspection reveals issues the buyer finds unsatisfactory, subject to the specific terms of the contingency.
Related South Carolina Contracts Questions
- In South Carolina, 'novation' in a real estate transaction occurs when:
- Under South Carolina's Statute of Frauds, which of the following DOES NOT need to be in writing to be enforceable?
- In South Carolina, 'accord and satisfaction' in the context of a real estate contract means:
- In South Carolina, 'assignment' of a real estate contract means:
- In South Carolina, a buyer who defaults on a ratified purchase contract forfeits their earnest money under a 'liquidated damages' clause. This amount must:
- In South Carolina, what is 'exculpatory language' in a real estate contract?
- In South Carolina, what is the purpose of the SC Residential Property Condition Disclosure Statement?
- What is 'mutual assent' in a South Carolina real estate contract?
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →