Buying a home is exciting, but sometimes unforeseen delays can affect the closing process. Whether you’re purchasing a house in Edmonton, selling a condo in St. Albert, or finalizing a rural property deal in Sturgeon County, knowing how to request an extension on your closing date is an essential skill in Alberta’s real estate market.
Understanding Closing Date Extensions
The closing date marks the day your property transaction is officially completed — when ownership transfers, funds are exchanged, and keys change hands. However, delays can occur due to financing issues, title complications, or even unexpected moves in construction timelines. In such cases, both the buyer and seller can agree to extend the date rather than terminate the deal.
When You Might Need More Time
- Financing delays due to mortgage approval or appraisal concerns.
- Document issues requiring updates or clarifications from your lawyer.
- Buyer or seller logistics, such as delayed move-outs or unexpected travel commitments.
- Construction or repair delays for newly built or renovated properties.
Steps to Request an Extension
- Speak with your REALTOR® — Your licensed real estate professional (registered through the Canadian Real Estate Association (CREA) and regulated by the Real Estate Council of Alberta (RECA)) will coordinate communication between all parties.
- Notify your lawyer or notary of any issues early to allow time for document updates.
- Create a written amendment to your purchase agreement specifying the new closing date and any additional conditions.
- Obtain signatures from both the buyer and seller to make the extension legally valid.
- Confirm with your lender that the new dates align with mortgage conditions.
Costs Associated with a Closing Extension
Requesting an extension isn’t always free. Depending on your situation and contract terms, several potential costs could arise:
- Per diem interest on mortgage funds, especially if your lender has already advanced a portion of the loan.
- Legal fees for amending documents and registering updated agreements.
- Additional property expenses (insurance, utilities, or taxes) if the seller must hold the property longer.
- Opportunity costs if the seller must delay their next purchase or move.
Tips for a Smooth Negotiation
- Address the issue as soon as possible to maintain trust and goodwill.
- Have your REALTOR® and lawyer handle communications in writing.
- Provide a reasonable explanation to strengthen your request — transparency goes a long way.
- Ensure all amendments are officially filed and acknowledged before the original closing date.
Final Thoughts on Alberta Real Estate Closings
In Alberta’s dynamic real estate markets — from Edmonton’s urban neighbourhoods to the growing communities of Sturgeon County — flexibility and clear communication can prevent unnecessary stress at the final stage of your transaction. A well-handled closing extension ensures both parties stay on track and maintain confidence in the process.
Before you proceed, always consult your REALTOR® and legal team to ensure all changes comply with Alberta real estate regulations. Understanding your rights, costs, and responsibilities today can save time and money tomorrow.