Contracts
In South Dakota, when a lender orders an appraisal and it comes in lower than the purchase price, the buyer typically has these options EXCEPT:
APay the difference between appraised value and purchase price in cash
BRenegotiate the purchase price with the seller
CExercise an appraisal contingency to exit the contract
DForce the seller to accept the appraised value by law✓ Correct
Explanation
Without a specific legal provision, the buyer cannot force the seller to accept the appraised value. Options include paying the gap in cash, renegotiating the price, or exiting under an appraisal contingency.
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