A sale contract contains an open-ended financing contingency: if the buyer cannot obtain financing within a reasonable time the deal is off. Six months later the buyer still cannot secure financing. Which of the following is true?
A) The seller may cancel the contract since it can be ruled invalid.
B) The buyer can continue indefinitely to seek financing, and the seller's property must remain off the market since "reasonable" is not defined.
C) The escrow agent is entitled to the buyer's deposit.
D) The seller can force a lender to commit to a loan under fair financing laws.
