Contracts
In New Mexico, which of the following is TRUE about the closing date in a purchase contract?
AIt can never be changed once set
BIt can be modified by written agreement of both parties (an amendment/addendum)✓ Correct
CIt automatically extends if the lender needs more time
DIt can be changed verbally between agents without documentation
Explanation
A closing date extension requires a written amendment or addendum signed by both buyer and seller. Oral agreements to change a written contract are generally unenforceable (Statute of Frauds).
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