The purchase agreement has a contingency for the seller to take back a purchase money mortgage for not more than $5,000 from the buyer until the sale if the buyer's home closes. At the closing the seller is told that the buyer is going to need $7,500 and cannot close. The seller may take any of the following actions except...
A Rescind the purchase agreement since the contingency was not met.
B Keep any earnest money paid by the buyer and sue for punitive damages.
C Mutually agree with the buyer to modify the contingency to the $7,500 needed and close the transaction the next day as scheduled.
D Agree with the buyer to have the closing delayed until the buyer has the additional funds.
