In an “as-is” contract, there are a few important extensions to be prepared for, particularly related to mortgage approval and the closing date:

1. Mortgage Approval Extension:
   If the buyer requires more time to secure mortgage approval, they may request an extension to the mortgage contingency date. This is common if the buyer’s lender needs additional time to process the loan or if there are delays in obtaining necessary documentation (e.g., appraisals or additional underwriting).
2. Closing Date Extension:
   Sometimes, the closing date may need to be extended, especially if there are delays in final loan approval, title issues, or other factors that could slow down the process. It’s important to factor in that lenders, appraisers, or title companies might not always stick to the original schedule.
3. Appraisal or Inspection Extension:
   Though “as-is” contracts typically minimize the buyer’s ability to request repairs or negotiate based on inspection findings, they might still request extra time for inspections or appraisals. If there’s an issue with the property, they may need additional time to assess the situation or renegotiate.
4. Title Issues or Other Contingencies:
   If any title issues or other legal concerns arise (e.g., liens, easements, or disputes), both parties may need more time to resolve these before closing can occur. A title company might need more time to clear up these issues.

In preparing for extensions, you want to ensure there is enough flexibility in the contract, particularly around the mortgage approval and closing dates, since those are the most critical to the transaction. It’s also important to communicate clearly with all parties involved—particularly the lender, appraiser, and title company—to keep everything moving smoothly and avoid unnecessary delays.