Contracts
In Alaska, a purchase agreement that includes a 'closing date extension' option typically allows:
AEither party to extend closing indefinitely
BExtension by one or both parties for a specified number of days upon payment of a daily fee or by mutual agreement✓ Correct
COnly the buyer to extend closing
DExtension only if the lender requires additional time for underwriting
Explanation
Closing date extension provisions in purchase agreements typically allow one or both parties to extend the closing date for a specified number of days, often subject to paying a per-day fee or by mutual written agreement. The terms of any extension must be agreed upon and documented.
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