Contracts
A Virginia buyer submits an offer with a home inspection contingency. After the inspection, the buyer requests repairs. The seller refuses all repairs. The buyer may:
AForce the seller to make the repairs through court order
BTerminate the contract and receive the earnest money back if the contingency permits✓ Correct
CAutomatically receive a price reduction equal to repair costs
DDemand the seller escrow funds for repairs at closing
Explanation
Under a properly written home inspection contingency, if the buyer and seller cannot agree on repairs, the buyer typically has the right to terminate the contract and recover the earnest money deposit.
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