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?
Correct Answer
C) The attorney should negotiate with the seller's attorney to address the additional requirements and any related costs or delays
The buyer's attorney should work with the seller's attorney to address the additional board requirements, negotiate any necessary contract modifications, and determine how additional costs or delays will be handled. This protects the buyer's interests while working toward completion.
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