A buyer and seller in Florida agree to extend the closing date by 10 days. The original contract had a 'time is of the essence' clause. What must they do to make this extension valid?
Correct Answer
B) Execute a written addendum signed by both parties
Correct: B - Contract modifications in Florida must be in writing and signed by all parties, especially with time is of the essence clauses. Why not A: Verbal modifications are not enforceable for real estate contracts. Why not C: Closing agent notification alone doesn't modify the contract. Why not D: County filing is not required for contract amendments.
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