If the price of a property changes due to a new survey, what action can the affected party take within the given percentage?

If the price of a property changes due to a new survey, what action can the affected party take within the given percentage?

• A. Renegotiate terms
• B. Terminate the contract
• C. Request additional disclosures
• D. File a complaint

Answer: (B)

In cases where the price of a property changes as a result of a new survey, the affected party has the option to terminate the contract. This action is typically available when the price fluctuation exceeds a specified threshold, which can often be outlined in the contract itself. When such a significant change in the property's value occurs, it can fundamentally alter the terms and expectations of the agreement. Terminating the contract allows the affected party to step away without being held liable, as the basis for the agreement has been altered by factors outside their control. It provides a necessary recourse to protect the interests of the party affected by the change in valuation. This option ensures that both parties have clear terms under which they can agree to proceed or dissolve the agreement without further issues.

In cases where the price of a property changes as a result of a new survey, the affected party has the option to terminate the contract. This action is typically available when the price fluctuation exceeds a specified threshold, which can often be outlined in the contract itself. When such a significant change in the property's value occurs, it can fundamentally alter the terms and expectations of the agreement.

Terminating the contract allows the affected party to step away without being held liable, as the basis for the agreement has been altered by factors outside their control. It provides a necessary recourse to protect the interests of the party affected by the change in valuation. This option ensures that both parties have clear terms under which they can agree to proceed or dissolve the agreement without further issues.