Closing Date Extension Addendum Template

What Is a Closing Date Extension Addendum?

A Closing Date Extension Addendum is drafted providing that both the buyer and seller agree to an extension date, concerning the sale of a property.

Alternate Name:

• Closing Date Addendum.

In most cases, when a buyer expresses interest in buying a property and the process of the transaction begins, a deadline date will be included by which the transaction should be closed. If the deal is not closed by this date, in the majority of cases, the seller will request the deposit placed by the buyer to be returned to them and they will then reenlist the property for sale. In agreements where the deposit is nonrefundable, the deposit remains with the seller. However, in some cases the seller may allow an extension date - providing that there is a legitimate excuse that is solvable. This may even be to the advantage of the seller if there has been a change in the market.

All parties involved in this transaction, including the buying and selling parties as well as the agent should all sign the document and receive a copy of it. The most convenient way to do this is by using a template. Not only is it time effective, but you will also be reassured that the correct structure has been abided by.

A Closing Date Extension Addendum template can be downloaded by clicking the link below.

Haven't found the template you're looking for? Take a look at the related templates below:

• Lease Amendment Template;
• Seller Financing Addendum Template;
• Third Party Financing Addendum Template.