Contracts
In Maine, a buyer who is unable to close on the scheduled closing date due to a bank delay may:
AAutomatically receive a 30-day extension
BRequest a written extension from the seller✓ Correct
CTerminate the contract without penalty
DProceed with closing on any day within 60 days
Explanation
If a buyer needs to extend the closing date, they must request a written extension from the seller. The seller may grant or deny the extension. Without an extension, the seller may be entitled to declare the buyer in default.
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