A sophisticated investor client in New York tells their agent that they have extensive legal knowledge and don't want attorney involvement in their purchase of a small apartment building. The agent is concerned about liability if problems arise. What is the agent's best course of action?
Correct Answer
D) Document the client's decision in writing and recommend attorney consultation
The agent should document the client's informed decision in writing while still recommending attorney consultation, especially for commercial transactions. This approach respects client autonomy while protecting the agent and ensuring the client's decision is properly documented.
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During a New York real estate transaction, the seller's attorney identifies a potential title defect. The buyer's agent is asked to advise whether the buyer should proceed with the purchase. How should the agent respond?
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