Contracts
A Wyoming real estate purchase agreement includes a contingency for the buyer to obtain financing within 30 days. If the buyer cannot obtain financing within that period, the buyer may:
AProceed with the purchase without financing
BTerminate the contract and recover the earnest money deposit✓ Correct
CDemand the seller lower the price
DExtend the contingency indefinitely
Explanation
A financing contingency protects the buyer by allowing them to terminate the contract and recover the earnest money if they cannot secure financing within the specified period under the agreed-upon terms.
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