Under the PAR Agreement of Sale, the buyer has an inspection contingency with a 10-day inspection period. On day 8, the buyer submits a repair request. The seller does not respond by the end of day 10. What happens under the standard PAR provisions?
Correct Answer
C) The buyer must decide whether to proceed or terminate based on the contract's specific provisions for seller non-response
The PAR Agreement of Sale contains specific provisions addressing the seller's failure to respond to inspection repair requests within the contingency period. The buyer must follow the contract's provisions, which may require the buyer to accept the property or terminate within a specified timeframe.
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A buyer in Pennsylvania wants to include a contingency in the Agreement of Sale that requires the property to pass a water quality test for the private well. Where should this contingency be documented?
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