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ContractsContingenciesMEDIUM

A Kentucky buyer discovers significant foundation damage during the inspection period. Under a typical inspection contingency, the buyer may:

Correct Answer

B) Negotiate repairs, request a price reduction, or withdraw from the contract

During the inspection contingency period, the buyer typically has the right to negotiate repairs, request credits, renegotiate the price, or terminate the contract if the issues are unsatisfactory.

Answer Options
A
Only request the seller to fix it
B
Negotiate repairs, request a price reduction, or withdraw from the contract
C
Sue for damages immediately
D
Automatically receive a 10% discount

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Related Topics & Key Terms

Related Topics:

inspection contingencyseller disclosureKRS 324.360material defectscontract renegotiationearnest money

Key Terms:

inspection contingencyfoundation damagebuyer optionsprice reductioncontract terminationearnest money refund
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