Contracts
A mortgage contingency in a Vermont purchase contract protects the buyer by:
AGuaranteeing the seller receives the full asking price
BAllowing the buyer to exit without penalty if financing is not obtained✓ Correct
CRequiring the seller to provide seller financing
DLocking in the interest rate for the buyer
Explanation
A mortgage/financing contingency allows a buyer to terminate the contract and recover their earnest money if they are unable to obtain suitable mortgage financing within the specified period.
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