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CLOSING DATE EXTENSION ADDENDUM THIS CLOSING DATE EXTENSION ADDENDUM (this Addendum) is made and entered into as of, and is by and between, with a mailing address of (Buyer), and, with a mailing address

How to fill out closing date extension addendum

How to fill out closing date extension addendum

1. Start by reviewing the terms and conditions of the original purchase agreement to understand the requirements for a closing date extension.
2. Prepare the closing date extension addendum document by including the necessary details such as the property address, buyer and seller's names, and the original closing date.
3. Clearly state the reason for the requested extension and provide any supporting documentation if required.
4. Specify the proposed new closing date and ensure that it is agreeable to both parties.
5. Include any additional terms or conditions related to the extension, such as changes in the purchase price or deposit amount, if applicable.
6. Both the buyer and seller must sign and date the closing date extension addendum to indicate their agreement to the revised closing date.
7. Make copies of the signed addendum for each party's records, and provide the original to the appropriate party or their respective real estate agents.
8. Be sure to communicate the updated closing date to any relevant parties, such as lenders, title companies, and attorneys, to ensure a smooth closing process.

Who needs closing date extension addendum?

1. Anyone involved in a real estate transaction who requires more time to complete the closing process may need a closing date extension addendum.
2. This may include buyers who are experiencing delays in mortgage processing, sellers who need additional time to address property repairs, or both parties who mutually agree to extend the closing date for unforeseen circumstances.
3. Real estate agents, attorneys, and other professionals involved in the transaction may also use the closing date extension addendum to document the agreed-upon changes.

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What is closing date extension addendum?

Closing date extension addendum is a document that extends the deadline for closing a transaction, usually in a real estate deal.

Who is required to file closing date extension addendum?

Both parties involved in the transaction are required to file the closing date extension addendum.

How to fill out closing date extension addendum?

The closing date extension addendum can be filled out by including the new closing date, reason for the extension, and signatures from both parties.

What is the purpose of closing date extension addendum?

The purpose of the closing date extension addendum is to give both parties more time to complete the necessary tasks before closing the transaction.

What information must be reported on closing date extension addendum?

The closing date extension addendum must include the new closing date, reason for the extension, and signatures from both parties.