Q: If we refuse to sign an extension on closing, does that effectively end the contract?
Closing was supposed to be this Friday, but, buyer wants us to sign an extension. We don't feel comfortable with the buyers...this is a owner finance, as-is deal written out on a florida real estate contract.
A:
Really cannot way for sure without first reading your contract. With something this important, you need to spend a consult fee to speak with an attorney and get an evaluation of your contract and whether you are obligated to sign an extension.
Good luck,
A:
Typically the contract terms will govern whether or not there is to be an extension. Most form contracts provide for reasons for delaying closing without the need for a written extension.
I understand this is a FSBO - but that does not mean you should proceed without an attorney. Find one and get advice.
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