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A financing contingency in Kansas protects the buyer by:

Correct Answer

B) Allowing termination and earnest money return if financing cannot be obtained

The financing contingency allows contract termination with earnest money refund if the buyer cannot obtain specified financing despite good-faith effort.

Answer Options
A
Guaranteeing loan approval
B
Allowing termination and earnest money return if financing cannot be obtained
C
Requiring seller financing
D
Extending closing indefinitely

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Related Topics & Key Terms

Related Topics:

earnest moneycontract contingenciesgood faith effortloan commitmentcontract termination

Key Terms:

financing contingencyearnest moneyloan approvalcontract terminationgood faith effort
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