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A financing contingency in Nevada:

Correct Answer

B) Protects the buyer by allowing termination and earnest money return if financing cannot be obtained

The financing contingency allows the buyer to terminate and recover earnest money if specified financing cannot be obtained.

Answer Options
A
Guarantees loan approval
B
Protects the buyer by allowing termination and earnest money return if financing cannot be obtained
C
Requires seller financing
D
Extends closing indefinitely

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Related Topics & Key Terms

Related Topics:

earnest moneyloan commitment letterappraisal contingencypre-approval vs. pre-qualificationcontract deadlines

Key Terms:

financing contingencyearnest money refundloan approvalbuyer protectioncontract termination
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