Contracts
Vermont's 'attorney approval contingency' gives the buyer (or seller) the right to:
AHave an attorney close the transaction for free
BHave their attorney review and approve the contract within a specified period✓ Correct
CReplace the purchase contract with an attorney-drafted agreement
DDelay closing until an attorney is retained
Explanation
An attorney approval contingency gives the specified party a short period (often 3-5 business days) to have their attorney review the contract and raise any objections or required modifications before the contract becomes fully binding.
Related Vermont Contracts Questions
- Vermont's seller property disclosure protects the buyer by:
- Which of the following is NOT a way a Vermont real estate contract can be terminated?
- A Vermont real estate agent fills out a standard Offer to Purchase form on behalf of a buyer. The agent is:
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