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A closing date extension addendum is an agreement between the buyer and seller of a property to extend the closing date of their purchase agreement. Once executed by all parties, the addendum is attached to the original purchase contract to include the new date on which the ownership will be transferred. Reasons for extending a closing date include the buyer needing more time to obtain financing or funds, unresolved issues with the property title, or personal issues that necessitate a delay in the closing process.
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CLOSING DATE EXTENSION ADDENDUM
1. THE PARTIES. This Closing Date Extension Addendum (“Addendum”) made this [MM/DD/YYYY] is by and between:
Seller: [SELLER’S NAME] (“Seller”) and
Buyer: [BUYER’S NAME] (“Buyer”).
The Seller and Buyer are each referred to herein as a “Party” and, collectively, as the “Parties.”
2. ORIGINAL AGREEMENT. This Addendum is being added to the purchase agreement between the Parties, dated [MM/DD/YYYY], for the property located at [PROPERTY ADDRESS] (“Original Agreement”).
3. CLOSING DATE EXTENSION. The Closing Date agreed to under the Purchase Agreement shall be hereby extended to [MM/DD/YYYY].
4. EXECUTION. This Addendum may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
This Addendum is void and of no effect if it is not signed by the Seller and returned to the Buyer or the Buyer’s Agent within twenty-four (24) hours from the time it was sent to Seller or the Seller’s representative.
Seller’s Signature: ___________________ Date: [MM/DD/YYYY]
Print Name: [SELLER’S NAME]
Buyer’s Signature: ___________________ Date: [MM/DD/YYYY]
Print Name: [BUYER’S NAME]
Agent’s Signature: ___________________ Date: [MM/DD/YYYY]
Print Name: [AGENT’S NAME]