A seller's attorney in New York receives a contract modification request from the buyer's attorney asking to extend the closing date by 30 days due to financing delays. What is the appropriate response?
Correct Answer
B) Review the request with the seller client and negotiate appropriate terms for the extension
The attorney should review the extension request with their seller client, discuss the implications, and negotiate appropriate terms. This might include conditions, compensation, or other modifications to protect the seller's interests during the extended period.
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