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Joseph M. Ghabour & Associates LLC

If I can't meet a deadline for a mortgage approval does the seller have to give me more time?

If you have a mortgage contingency in your contract of sale, which means that the contract is contingent upon your approval for a mortgage, you have a deadline to obtain an unconditional mortgage. You can request an extension of time from the seller or their attorney if you cannot meet the deadline but they are not under any obligation to extend the deadline. This can vary depending on the language of your written contract of sale and your attorney review rider and any addendums to the contract.

Joseph M. Ghabour
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