Q-1 the sellers accept an offer received on February 1. They later find out that the scheduled closing date needs to be changed because the buyers loan has not yet been approved. Which is the best way to handle the situation

1. close the escrow, with the buyer giving the attorney a check post dated to the new closing date

2. a seperate agreement covering the change in closing date should be written, signed by all parties and attached to the sales contract

3. the sellers should give the buyer a signed acknowledgement of extension of time

Please ASAP with explanation within 30 min or ASAP. thanks

4. originial closing date on their contract should be crossed out and a new date written and both parties initial the change