Contracts
Under Virginia law, a buyer's right to terminate a contract for a new home under the Virginia Condominium Act must be exercised within:
A3 days of contract execution
B5 calendar days of receiving the public offering statement✓ Correct
C10 days of the final walkthrough
D30 days of closing
Explanation
Under the Virginia Condominium Act, a buyer of a new condominium has 5 calendar days after receiving the public offering statement to rescind the contract without penalty.
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