OfflineIf you have not had this situation, you will. You have a good property and you are up against your due diligence deadline. You have a buyer that needs a feew more days to get on the hook. What do you do?
Ask for an extension. Have your Realtor write up an addendum and get an extension on time. Almost every time you will be granted an extension. However, don't keep asking for extensions on the same property. You will get the first. It will be harder to get additional ones.
Remember the old addage, "The worst they can say is no."
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Roy Voeks
Official RE Coach
I have actually had to do this with one of my own deals. We coming up to the deadline and weren't quite ready to close so we asked for an extension. And because the seller wanted to unload the property he granted me the extension. He did it without questions.
One thing I always try to remember is that just because you have a contract on a property doesn't mean the contract can't be altered. Even after an agreement has been reached it can be changed by mutual agreement and through use of an addendum.
somehow I usually forget to do so!
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