Contracts
Time is of the essence in a real estate contract means:
AThe contract must be signed immediately
BDeadlines stated in the contract must be strictly met✓ Correct
CThe transaction must close within 30 days by law
DThe broker must present offers within 24 hours
Explanation
When a contract states time is of the essence, all deadlines are strict, and failure to perform on the specified date constitutes a material breach.
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