Contracts
A Connecticut seller and buyer sign a purchase contract with a closing date of August 31st. On August 29th, both parties mutually agree to delay closing to September 15th. This modification must be:
AVerbal and confirmed by the brokers
BIn writing and signed by both parties to be enforceable✓ Correct
CApproved by the real estate commission
DFiled with the Town Clerk
Explanation
Any modification to an existing real estate contract—including an extension of the closing date—must be in writing and signed by both parties to be enforceable under the Statute of Frauds. Verbal agreements to modify real estate contracts are generally unenforceable.
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