closing protection insurance: Give that Buyer a Closing Extension or Not? - 12/30/13 08:45 PM

Mark Weisleder reminds us that getting an extension date on your closing date has costs and that needs to be addressed;    Who Pays? 
Buyers often need to request an extension to their closing date. The main reasons are as follows:
·         The buyers have not yet sold their current home; or
·         The buyers' financing has fallen through or the buyers have not complied with all of the lender's requirements;
The main lesson for everyone is that no buyer is automatically entitled to an extension. If a buyer can't close, the seller can take the position that the buyer is in default, sue for … (4 comments)

 
David Pylyp (RE/MAX Realty Specialists Inc.,)

David Pylyp

Toronto, ON

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