Extension of Time Addendum
An addendum used to extend specific deadlines in the purchase agreement, such as contingency periods or the close of escrow date.
When Its Used
Used when parties agree to extend any deadline, most commonly for contingency periods, loan approval, or closing date.
Key Sections
Original deadline being extended; New deadline date; Reason for extension (optional); All party signatures
Common Mistakes
Requesting extension after deadline has passed; Not getting all signatures; Vague about which deadline is being extended; Unrealistic new deadline
Pro Tip
Request extensions before deadlines pass. Be specific about which deadline is being extended. Document the new date clearly.
