Contracts
A South Carolina seller accepts an offer with a contingency that must be removed by Friday at 5 PM. If the contingency is not removed by that time, the contract:
AAutomatically extends by 24 hours
BTerminates unless the parties agree to extend the deadline✓ Correct
CConverts to an unconditional contract
DMust go through SCREC mediation
Explanation
If a contingency deadline passes without the condition being met or waived, the contract typically terminates (unless both parties agree to extend). Time-specific contingency deadlines are strictly enforced.
Related South Carolina Contracts Questions
- South Carolina law requires that real estate listing agreements be:
- Under a South Carolina 'as-is' sale provision, the seller:
- In South Carolina, earnest money deposited on a real estate purchase must be held in:
- In South Carolina, what is an 'escalation clause' in a real estate offer?
- What is the effect of a counteroffer on the original offer in a South Carolina real estate transaction?
- What is the purpose of a 'walk-through inspection' conducted before closing in South Carolina?
- A South Carolina seller receives multiple offers simultaneously. The seller's best practice is to:
- In South Carolina, 'earnest money' in a real estate transaction serves primarily as:
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 →