Closing ‘On or Before’ the Deadline: When & Why You Should Extend in Writing

The closing deadline included in the sale agreement allows for closing to occur “on or before” a specific date. The definition of closing includes the need for the parties to sign closing documents and for the recording of the deed and funding to occur. If all three of these things can’t occur by the specified closing deadline, it should be extended in writing. If the parties elect to close prior to the specified deadline, the language allows that to occur without revising anything, but best practice would still be for everyone to agree in writing to the date.

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