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Contracts Ny Real Property LawAttorney_role_in_transactionsHARD

Attorney Jennifer represents the buyer in a New York real estate transaction. During her contract review, she discovers that the property has an easement that significantly affects the buyer's intended use. The buyer wants to proceed but asks Jennifer to negotiate a price reduction directly with the seller. What should Jennifer do?

Correct Answer

B) Contact the seller's attorney to discuss the easement issue and potential price adjustment

The buyer's attorney should communicate with the seller's attorney regarding contract modifications and price adjustments. This maintains proper legal representation for both parties and ensures all communications are properly documented and legally appropriate.

Answer Options
A
Negotiate directly with the seller since attorneys can communicate with all parties
B
Contact the seller's attorney to discuss the easement issue and potential price adjustment
C
Advise the buyer to have their real estate agent handle the price negotiation
D
File a legal action to void the contract based on material misrepresentation

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Related Topics & Key Terms

Key Terms:

attorney_ethicscontract_modificationeasementprice_negotiation
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