End Buyer wants an extension

So, we are supposed to go to closing tomorrow, and my end buyer called and wants an extension un til next Fri.
I have a 1000 deposit from her. Total assignment is 18500 (i have to pay 4500 to another party, and 2300 in transfer taxes).

So my question is do I grant the extension and just get more depoist? Should I try to renegotiate the closing costs? THis is my first deal and I’m not sure what to do.

I have 25 business days left in my contract… but I would like to just get this done.


Do you know what the extension is for? see what the delay is for. If you feel the closing will go through if you wait a week, then extend. If you think it is risky, then ask for more to compensate you for the delay.

Dear First Deal,

Oh, do I remember that one.

Okay, this 15k is driving you crazy because you really need the money. I get it. BEEN THERE.

Now you aren’t sure if they are jerking you around.

First question: Do you have another buyer? If not, get one…you will be able to sleep at night.

Second question: Are they re-assigning it or are they closing it themselves?

Third question: What is the extension for?

Fourth question: How good of a deal is it?

If they are trying to get a 100% mortgage or anything like this…forget it, it’s not going to happen.

If they are unwilling to give you an additional $2k deposit (not upping the price), then forget it, they don’t have confidence in themselves or the deal.


Search the board for “How To Take Deposits”, it will help.

Hang in there…that first deal is always the most stressful.

Hope this helps,

Matt Gerchow
Currently In S. America for 4-Months…Next Stop…Thailand for 6-Months