Contracts
A Wyoming buyer's offer includes a 10-day inspection contingency. On day 9, the inspector finds major foundation issues. The buyer may:
ADo nothing; the deadline has passed
BTerminate the contract and recover earnest money, or negotiate repairs within the contingency period✓ Correct
CAutomatically extend the contingency 30 days
DForce the seller to fix the foundation before closing
Explanation
Within the inspection contingency period, the buyer may terminate and recover earnest money, accept the property as-is, or negotiate repairs or a price reduction with the seller. Day 9 is within the 10-day period.
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