Contracts
A Washington buyer has a 10-day inspection contingency in their purchase and sale agreement. On day 8, the inspector finds minor cosmetic issues only. The buyer decides they no longer want the property for personal reasons. The buyer may:
ACancel based on the inspection contingency, even for minor issues✓ Correct
BOnly cancel if there are material defects found in the inspection
CCannot cancel because the inspection found only minor issues
DRequest a price reduction but cannot cancel
Explanation
Inspection contingencies in Washington (if properly drafted) typically give the buyer the right to terminate the contract based on anything found in the inspection, not just material defects. The buyer has the right to walk away for any reason during the contingency period.
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- A Washington seller's disclosure statement (Form 17) is required for which of the following transactions?
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