Both parties sign an agreement as to their intentions. Usually BOTH will sign to go forward an give more time.....Time is of the Essence (as the legal term has slways stated) http://www.JeanSOLDMyHouse.com

were you asked to sign an extension to the P&S?

Depends on what your contract says and on the reason it didn't close. Most P&Ss have a built in extension for 30 days to perfect title. Why didn't the transaction close?

I would need more of the particulars to answer the question...why did the seller postpone?

Every contract has a closing date. If the date comes and goes and the contract doesn't close, you no longer have a contract. You can extend the closing date with a written extension signed by the buyer and seller.