Attorney Susan represents a seller in a New York transaction. During contract review, she discovers that her client failed to disclose a known foundation issue. The buyer has not yet hired an attorney. What should Susan do?
Correct Answer
B) Advise the seller to disclose the foundation issue and recommend the buyer obtain legal counsel
Susan must advise her client to make proper disclosure of known material defects as required by New York law. She should also recommend that the unrepresented buyer obtain independent legal counsel to ensure they understand their rights and options.
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A New York real estate agent prepares a purchase offer using a standard form contract. After the seller accepts the offer, what typically happens next regarding attorney involvement?
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In a New York cooperative (co-op) purchase, the buyer's attorney discovers that the co-op board requires additional financial documentation not mentioned in the purchase contract. The seller claims this is the buyer's responsibility. How should this situation be handled?