A buyer in Pike County, PA includes a contingency in the Agreement of Sale for review of the property's deed restrictions. The review reveals that the deed prohibits any commercial use of the property. The buyer planned to operate a bed-and-breakfast. Can the buyer terminate under this contingency?
Correct Answer
A) Yes, the buyer may terminate if the deed restrictions prevent the buyer's intended use of the property
The deed restriction contingency allows the buyer to review restrictions and terminate if they prevent the buyer's intended use. If the deed prohibits commercial use and the buyer intended to operate a B&B (which could be classified as commercial), the buyer may terminate under the contingency.
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A buyer in Cambria County includes an environmental contingency in the PA Agreement of Sale due to a former gas station adjacent to the property. The Phase I environmental assessment identifies potential soil contamination requiring further testing. Under the contingency, what can the buyer do?
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A buyer in Blair County, PA includes a contingency for satisfactory review of the property survey. The survey reveals that the neighbor's fence encroaches 2 feet onto the property. Under the survey contingency, what can the buyer do?