easy · National Real Estate Exam contracts
A buyer and seller agree that the buyer will pay for all inspections. The buyer finds termite damage and wants to cancel.
If the contract is contingent on a 'satisfactory wood-destroying insect inspection,' what happens to the inspection cost?
- The broker must pay for the inspection from the earnest money.
- The buyer can sue the termite inspector for a refund.
- The seller must reimburse the buyer because the property was defective.
- The cost of the inspection is the buyer's responsibility as agreed.
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