What Is a Purchase and Sale (P&S) Extension Addendum in NH Real Estate?

🏡 What Is a Purchase and Sale (P&S) Extension Addendum in NH Real Estate?

In New Hampshire real estate, not every transaction stays perfectly on schedule. Financing delays, appraisal issues, title work, inspections, and lender backlogs can all affect the original timeline.

When this happens, buyers and sellers use a Purchase and Sale Extension Addendum to officially extend a deadline in the Purchase & Sale Agreement (P&S).

Here’s how P&S extension addendums work in NH.

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What Is a P&S Extension Addendum?

A Purchase & Sale Extension Addendum is a written agreement signed by both parties that extends one or more deadlines in the P&S contract.

It becomes a legally binding modification to the original agreement.

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Common Deadlines That Get Extended

Extensions are typically used for:

✔ Closing date

✔ Financing approval deadline

✔ Inspection deadline

✔ Appraisal deadline

✔ Title review clear-to-close timeline

✔ Septic or well inspection scheduling

✔ Condo document review period

Any contractual date may be extended if both parties agree.

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Why Buyers Request an Extension

Buyers may need an extension if:

✔ Lender underwriting is delayed

✔ Additional documentation is required

✔ Appraisal scheduling is backed up

✔ Repairs are still being negotiated

✔ Title issues are being resolved

✔ Weather delays inspections (common in winter in NH)

Extensions protect the buyer’s earnest money and avoid contract default.

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Why Sellers Agree to Extensions

Sellers often accept extensions because they:

✔ Want to keep the deal intact

✔ Prefer a short delay over starting over with new buyers

✔ Understand lender and appraisal delays

✔ Benefit from a stable transaction rather than uncertainty

✔ Want to avoid extra time on market

Sellers generally approve reasonable extension requests that keep the deal moving.

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How a P&S Extension Addendum Is Completed

A typical addendum will include:

📌 Which deadline is being extended

📌 The new agreed-upon date

📌 Signatures from both buyer & seller

📌 Date the addendum goes into effect

Once signed, it becomes part of the contract.

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Can a Seller Refuse an Extension?

Yes. A seller can refuse an extension request, which may result in:

❌ The buyer losing the home

❌ Termination of the contract

❌ Risk to the buyer’s earnest money (depending on the contingency status)

That’s why buyers should request extensions before deadlines expire.

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Bottom Line

A P&S Extension Addendum is a simple but crucial tool in NH real estate that keeps transactions on track when deadlines need to shift. Whether due to lender delays, inspections, or title issues, extensions help both parties reach a smooth closing without unnecessary conflict.

Jim Johnson — Real Estate Agent

58 NH Route 25A

Wentworth, NH 03282

P: (857) 249-7392

W: www.JimJohnsonRealEstateAgent.com

Licensed New Hampshire REALTOR® with Three Hills Real Estate Services

Broker Email: info@ThreeHillsRES.com

Broker Website: www.ThreeHillsRES.com