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?
Correct Answer
A) Yes, the request was submitted on the last day of the 15-day inspection period
The buyer submitted the repair request on day 15, which is within the 15-day inspection contingency period. As long as the request is submitted by the end of the contingency period, it is timely under the PAR Agreement of Sale.
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A buyer in Pennsylvania enters into a PA Agreement of Sale with a mortgage contingency. The buyer receives a conditional mortgage commitment that requires the buyer to pay off an existing car loan before closing. The buyer refuses to pay off the car loan. Can the buyer invoke the mortgage contingency to terminate?