What is the implication of risk of loss for a buyer prior to closing?

The implication of risk of loss for a buyer prior to closing is that if the property is destroyed, the buyer has the right to terminate the agreement. This means that the risk of loss falls on the buyer during the period leading up to the closing, which gives them certain protections. If an unforeseen event occurs that results in significant damage or destruction of the property, the buyer is not obligated to proceed with the purchase under those conditions. Instead, they can choose to back out of the contract, thereby protecting their financial interests and avoiding the potential burden of acquiring a damaged property.

In this context, the notion that property cannot be destroyed during this time does not hold true, as risks are inherently present. Similarly, the assertion that the buyer must accept the property in its current state ignores the buyer's right to terminate if significant issues arise. Lastly, the idea that the buyer must make repairs before closing is misaligned with the reality of risk of loss, as any necessary repairs would typically fall to the seller until the point of closing, not the buyer.