It's a hot market! Properties are selling over list... multiple offers... short closings...
In a hot market, it's important to remember that the purchase contract says, "time is of the essence."
The times that are written in the contract must be strictly adhered to. If the contract says the deal will close at 12:00 PM on March 15th, the seller does not have to extend for even five minutes.
Do sellers usually extend? Yes, but they don't have to.
Consider this: With a longer closing, for example, three months after the condition removal date, the property could rise 10-20% in value. In this situation, a seller might not give those five extra minutes. Both buyers and sellers need to be aware of this.
It's crucial buyers do not commit themselves to timelines they can't meet; this could put the seller in a position to yank a deal.
Cheers,
Barry