Under the PAR Agreement of Sale, all of the following items are typically addressed in the property inspection contingency EXCEPT:
Correct Answer
A) A maximum dollar amount that the seller is required to spend on repairs
The standard PAR inspection contingency does not include a mandatory maximum dollar amount that the seller must spend on repairs. Repair negotiations are open-ended, and the buyer retains the right to terminate if the parties cannot agree, regardless of the repair cost.
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More Pa Specific Contract Provisions Questions
Under the PAR Agreement of Sale, all of the following are obligations of the buyer under the mortgage contingency EXCEPT:
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A buyer in Westmoreland County has an inspection contingency that expires in 5 days. The buyer has not yet scheduled an inspection. On day 4, the buyer asks the seller for a 10-day extension. The seller refuses. What happens?
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A buyer in Pennsylvania is purchasing a home built in 1965. Under federal law and the PAR Agreement of Sale, what disclosure must the seller provide regarding lead-based paint?