Nicole Marks Mason, Realtor, GRI
United Realty Group
Most of the time sellers are willing to extend the contract because if they don't then they will start back at square one and likely go through the same thing with anyone else who wants to buy the condo.
Some banks are slower than processing loans than others, and some condo associations are just not very responsive in getting banks what they need to approve the condo. Unfortunately this has nothing to do with YOUR qualifications, which is why it can be frustrating as a buyer. Not to mention that while everyone is taking their time you are sweating whether you are going to lose your interest rate or not.
My advice is to be patient and make sure everyone is communicating. Give it some time and hopefully everything will work out. Good luck!