01 Aug Buyer missing close date by 5 days — required to formally extend escrow?
After a lot of stress and whack-a-mole'ing problems and generally taking 10 years off my life through this whole process, I'm told my buyers finally got their clear to close today. Our scheduled close date is tomorrow 8/1, but now everyone is telling me our close date will be 8/6. I'm fine with that, I just want the whole process to be over with, but I'm wondering if we should be formally extending the escrow closing date.
When I threatened NOT to agree to that yesterday because I felt like my agent and the buyers were playing games, everyone just about had a heart attack. Today I said I'm willing to sign an extension and now my agent doesn't seem to think it's a big deal.
So… Is it a big deal? Everyone seems committed to hitting the 8/6 close date, so will it be a problem if we just let the original close date slip without some kind of documentation saying that we all agree to it?