Extension Policy

[Don E. McNaughton]

Matt Martin has informed us that they will no longer be allowed to Extend a closing on Owner Occupied Sales the first time for Free!  
They are Required by HUD to charge the Extension Fee of $25.00 per day   $375 -15 day Extension



1.The Request for extension must be made in writing to the HUD designated Closing Agent. The request must include the cause of the delay and a signed and dated lender letter stating the necessary mortgage financing has been obtained or is imminent.

2.The Request for extension must be received by the Closing Agent no later than 5 days prior to the expiration of the contract

3.The extension will be granted for 15 calendar day period The extensions fees are due to the Closing Agent when the extension request form is submitted. These fees must accompany the extension request and be a non-refundable cashier’s check or money order, payable to HUD, in the full amount of the 15 day extension.

4.At time of Closing the unused extension fees, if any will be prorated to the Purchaser

5.The granting of initial extension period does not obligate the Seller to grant additional extensions

6.Extension fees will be retained by seller if the closing does not occur.