A buyer in Pennsylvania includes a zoning contingency in the Agreement of Sale because they plan to operate a home-based business. What does the zoning contingency protect the buyer against?
Correct Answer
C) The risk that the property's zoning classification does not permit the buyer's intended use
A zoning contingency protects the buyer against the risk that the property's current zoning classification does not permit the intended use (in this case, a home-based business). If the zoning does not allow the buyer's planned use, the buyer can terminate the agreement.
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Previous Question
A buyer in Dauphin County includes a contingency for the sale of their current home. The contingency states that the buyer must have a binding agreement on their current home within 60 days. On day 55, the buyer receives an offer on their current home but has not yet accepted it. What must the buyer do?
Next Question
A buyer in York County, PA has an inspection contingency with a 15-day period. The buyer hires a home inspector on day 3. The inspector's report is delayed and not received until day 14. The buyer submits repair requests on day 15. Is the buyer's request timely?