up-to-date! If delays don't signal weakness in the Deal
you may find a willingness to extend the Closing Date.
Your request should be communicated through your Realtor
first- if no luck consult an attorney. In any event Start communication
well ahead of the expiration of your contnigency dates - all
agreements in writing.
Extention requests that seem reasonable in light of " circumstances "
are best obtained within the time-frames outlined in your contract
and recieve a better "hearing" if the delays are for reasons outside
your control . Get on it !- Get help if you need it!
Bob Brubaker Highlight Realty Palm Beach County Fl. 561-876-6649
As agents, we can only speak from our own experience. Generally, we find that condo association and bank delays are understood by sellers. An addendum that extends the closing date is the custom.
However, your sellers may ask you to update them with specifics on the bank delay in order for them to determine whether or not you will be granted the loan.
As for the condo association, most stipulate that they have up to 30 days from the day the final document is submitted to process their paper work. Many of the associations will take every minute of those 30 days.
We're not connected to your transaction, so we don't know if the seller will allow you to extend the time. However, it probably will make sense for them to do so. After all, if the sellers were to cancel your contract, they'd have to undergo the same process again.
Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
Nicole Marks Mason, Realtor
Have you removed your financing contingencies (in writing)? If you haven't and the seller won't extend closing, you should get your deposit back. If you have removed your contingency in writing, and the seller won't extend closing, you might lose your deposit (the seller can agree to give it back to you - they don't HAVE to keep it). Have your Realtor prepare an extension for closing (find out from your lender the latest possible date so you don't have to keep doing extensions if it doesn't close). Have your Realtor let the Listing Agent know you really want the property and the reasons for the extension. Also have your Realtor explain that the extension is the latest possible close date so you don't have to keep doing extensions - you can always close before the extension date if possible without having to do more paperwork.