If a buyer and seller want to move the closing date up, what is required?

In real estate transactions, any change to the terms of a contract, including the closing date, generally requires a formal amendment to the contract to ensure that all parties have a clear understanding of the new terms and to protect their interests. While informal verbal agreements may be convenient for both parties, they lack the legal enforceability that written documents provide.

A written amendment provides a clear record of the change, which can be essential in preventing disputes that might arise later regarding the new closing date. Furthermore, lenders and title companies typically require a formal amendment outlining any changes to ensure all documentation is in order for a successful closing.

Thus, even if both parties verbally agree to move the closing date, it remains crucial to have a written amendment to solidify that agreement and comply with legal standards in real estate transactions.