{"id":12953,"date":"2019-11-27T15:28:26","date_gmt":"2019-11-27T23:28:26","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=12953"},"modified":"2025-11-12T22:52:14","modified_gmt":"2025-11-13T06:52:14","slug":"buyer-can-buyer-push-back-closing-date","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/buyer-can-buyer-push-back-closing-date\/","title":{"rendered":"Can I Push Back the Closing Date on the House I\u2019m Buying?"},"content":{"rendered":"

A closing date<\/span><\/a> is like a term paper deadline: you need to meet it. But life happens, and sometimes you need an extension.<\/p>\n

In fact, about 1 in 4 closings experience delays<\/a>, according to the National Association of Realtors (NAR).<\/p>\n

The good news? These delays didn\u2019t derail deals entirely because buyers and sellers have the option to communicate and compromise. Here, we\u2019ll lay out how to convey why you need a little more time \u2014 whether it\u2019s a titling or deed issue<\/a>, a family emergency, a natural disaster<\/a>, a holiday<\/a>, or some other matter \u2014 so that your purchase stays on track.<\/p>\n

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Setting the closing date<\/h2>\n

At closing, the house becomes yours, but you\u2019ll need patience between making an offer and getting the keys. The average time to close on a house in September 2019 was 43 days<\/a>, according to data from Ellie Mae.<\/p>\n

A seller will specify a date based on when they\u2019re able to take possession of a new home, or (more often than not) a buyer\u2019s mortgage lender determines the date based on how long it needs to process the loan<\/a>.<\/p>\n

Most parties schedule the closing date for 30 to 45 days after agreeing upon an offer<\/a> to give the lender enough time to review your financial history and underwrite the mortgage. If you pay cash, you and the seller can arrange for a faster closing while allowing enough time for a home inspection<\/a> and any needed repairs.<\/p>\n

Are you covered by a contract contingency?<\/h3>\n

Buyers and sellers often have to meet certain contingencies<\/a>, or conditions that make the contract binding. Contingencies protect you as a buyer from surprises that crop up before closing.<\/p>\n

Standard contingencies cover you in the event that the appraisal comes in under contract value<\/a>, the inspection identifies major issues with the home<\/a>, or if something happens with your financing. In each of these scenarios, penciling contingencies into the contract gives you the ability to walk away from the deal and keep your earnest money.<\/p>\n

More often than not, though, sellers and buyers are able to negotiate through each closing milestone and come to an agreement, even if it\u2019s later than expected. (NAR data shows that typically only 2%-4% of settlements are typically cancelled during any given quarter.)<\/p>\n

However, steps like the inspection, appraisal, and title search can and do cause delays<\/a>. If you communicate with the seller and stay on the same page about pushing back the deadline, however, you\u2019ll likely be able to keep the deal moving forward.<\/p>\n

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Source: (Christin Hume\/ Unsplash)<\/figcaption><\/figure>\n
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You need an extension for financial or personal reasons. Now what?<\/h2>\n

Some contracts build in leeway around closing with phrases such as \u201con or about\u201d a particular date while others allow for a \u201creasonable\u201d extension<\/a> of 10 to 30 days, depending on the circumstances.<\/p>\n

Either way, if you need more time to get your part of the deal in order, first document the reason for the delay to substantiate your interest and show you\u2019re conscientious, said Marcus Vanzant<\/a>, a top-performing Bradenton, Florida, agent<\/a>.<\/p>\n

\u201cIt\u2019s really just about full disclosure: \u2018This is the reason why. If you could work with us, we would really appreciate that.\u2019 And just coming from a good, humble spot,\u201d he said.<\/p>\n

Your agent also might have run into a particular issue in the past and be able to advocate for you. For instance, Vanzant said he and seller\u2019s agents have agreed to extend closing dates by roughly a week when dealing with certain lenders they know are slow about approval.<\/p>\n

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Can moving the closing date cost me?<\/h2>\n

Moving a closing date past the end of one month and into the next could mean you\u2019ll pay more daily interest charges<\/a>, depending on your loan product. Your purchase agreement also may state that a buyer who misses the original closing date must pay the seller a penalty, such as a flat fee or a daily charge for each day past the original closing date<\/a>, compensating the seller for additional tax, insurance, and mortgage payments in the interim.<\/p>\n

However, a seller could agree to a short extension without a penalty<\/a> because of all the different parties involved in this process. (If there\u2019s a cloud on the title<\/a>, or a lender requires hazard insurance<\/a>, for instance, a seller may not fault the buyer for this.)<\/p>\n

Vanzant said he\u2019s found that sellers are much more agreeable in terms of delays when they know what to expect and are sympathetic to a particular buyer\u2019s situation.<\/p>\n

\u201cIt\u2019s not always \u2018squeaky wheel gets the grease,\u2019\u201d he said. \u201cIt\u2019s being a good buyer throughout the process, being kind, being reasonable through the repairs, all those kinds of things. Then when we have to ask for a favor, there\u2019s more opportunity to get that favor.\u201d<\/p>\n

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Source: (ESB Professional\/ Shutterstock)<\/figcaption><\/figure>\n
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Keep your closing on track: Get your finances in order ahead of time<\/h2>\n

Financing issues were the top reason for contracts with delayed settlements<\/a> from July to September 2019, affecting 36% of transactions, although there were some personal reasons in the mix as well, such as the buyer losing a job (affecting 1%).<\/p>\n

Although some delays are out of your hands, such as the health and safety repairs that FHA, VA, and USDA home loans require<\/a>, you can do your part to guard against pushing back the closing date by planning ahead<\/a> for the mortgage process and credit check.<\/p>\n

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1. Work with a lender to get pre-approved for a mortgage (or better yet, a pre-approval with a full financial underwrite)<\/h3>\n

Before you head into your property search, meet with a lender<\/a> to confirm that you\u2019d qualify for a mortgage and, if so, how big of a loan you qualify for based on your finances. Note that there are different levels of financial evaluation a lender can provide.<\/p>\n

To obtain pre-qualification, for instance, a lender will ask you questions about relevant factors like your income, savings, and credit without verifying anything. However, you\u2019ll be in a more competitive position if you opt to get the more robust mortgage pre-approval<\/span><\/a>, for which the lender actually verifies at least some of your financial information.<\/p>\n

Finding a lender that will underwrite and verify a lot of your information up-front will call for a little legwork on your end. To prepare for the pre-approval process, gather up any financial documents you\u2019ll likely need<\/a> to show the lender, such as:<\/p>\n