Contract Extension

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If an extension is needed, it must be requested no later than 2 days prior to the contract expiration. The selling agent must submit the closing extension request form from the AM, state the reason and provide supporting documents for the delay, and submit any required extension fees.  

Extension fees are paid in certified funds payable to HUD. Extensions are granted in 15 day periods and the entire extension fee must be submitted regardless of how many days are needed.  If fewer than 15 days are needed, the difference will be credited back to the buyer at closing.

The fee amounts are as follows:
For properties $25,000 and less $10 per day
For properties $25,000-$50,000 $15 per day
For properties > $50,000 $25 per day





Liz Schuyler
Liz Schuyler
Realtor
4000 Virginia Beach Blvd #164 Virginia Beach VA 23452