Who is responsible for financial overruns, or deadlines not met.  

Anyone else who ask you pre-pay is likely fooling you.Another advice is never hurry into any deal due to some artificial deadline - such as lease is up. 

I am sure the accountant has told you about the RI 1065, the annual report , and  that deadlines for filing are different when you file corporate. 

I assume you mean some kind of code violation but that rarely has any impact on anything other than to cut your lawn by the deadline the code enforcer told you to cut it by or, to remove the car on blocks from the driveway.Open permits?

@Rowlens MelduniIf it’s a hot property I’m seeing sellers/sellers agents ignoring any deadlines.

The best was the month long trip to Australia where he was going to be completely unreachable and unavailable despite being told that deadline to close was at the end of the month.After pleading with FNMA for an extension, my attorneys kept trying to schedule a date to close. 

We also had a short deadline for closing and going thru the process of a new LLC paperwork and potentially chatting with an attorney would require extra time (that we didn't have).

My next deal spells out specific expectations as to project duration/scope of work, payment schedule, and deadlines.

As Fred suggested, call the bank and tell them the deadline for financing is XXX and the seller is getting mad that it hasn't been done. 

Just let him do the renos with a specific deadline.