A buyer in Chester County includes a radon contingency in the PA Agreement of Sale. The radon test results come back at 3.5 pCi/L. Under EPA guidelines and the radon contingency, what is the buyer's position?
Correct Answer
C) The buyer's options depend on the specific terms of the radon contingency in the agreement
The buyer's rights depend on the specific terms of the radon contingency. While the EPA action level is 4.0 pCi/L, the contingency in the agreement may specify different thresholds or provide the buyer with discretion. At 3.5 pCi/L (below the EPA action level), the buyer's options are governed by the contract terms.
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A buyer in Pennsylvania includes a sale-of-buyer's-property contingency in the Agreement of Sale. The seller accepts with a kick-out clause. The seller receives another offer and provides the buyer with 72-hour notice. If the buyer cannot remove the contingency within 72 hours, what happens?