A New York purchase contract specifies a closing date of June 15th. On June 10th, the seller's attorney notifies the buyer that the seller needs an additional 10 days to resolve a title issue. The buyer's attorney agrees verbally but requests written confirmation. What is the legal status of this modification?
Correct Answer
B) The modification is not enforceable until confirmed in writing by both parties
Under New York law, modifications to real estate contracts must be in writing to be enforceable. While the attorneys may have reached a verbal understanding, the modification is not legally binding until both parties sign a written amendment to the contract.
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