Contracts
A Wyoming purchase contract that includes a financing contingency allows the buyer to cancel if:
AThe buyer changes their mind about the purchase
BThe buyer cannot obtain financing on the terms specified in the contingency✓ Correct
CInterest rates rise by any amount after signing
DThe property does not appraise at exactly the purchase price
Explanation
A financing contingency protects the buyer by allowing them to cancel and recover their earnest money if they cannot obtain financing on the specific terms stated in the contingency (amount, rate, term). The buyer must make a good-faith effort to obtain financing.
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