You have a car loan at 4%, but prevailing rates are now 3%.....you can "refinance" your car loan to the prevailing interest rate and save 25% monthly interest.In real estate, you can refinance to a) lower your interest rate (like the car loan example above)b) take out a loan larger than the one being paid off ("cash out")c) extend the term of the loan (start a new 30-year loan for a residential house, or refinance a balloon payment, which is typical for commercial properties).Keep asking questions around here. 

It's been 50 days, we're supposed to close tomorrow and have already extended once by 23 days.

You mentioned the high vs. low rents, so you're already thinking in the right direction, extend it a bit further.

I spoke with my lender and I’m going to have to pay to extend my rate lock!

If you can't complete the Form by the deadline (although that deadline was extended to May 17 this year), then you have to file an extension using Form 4868 in order to include your Form 8824. 

We send out a renewal option with typically 2 options: 1. extend for 12 more months at X rent, which is an increase of X.

This must be part of the process, lure them in with an overstated public fair market rent, make them wait extended periods of time for an inspection and offer and then low ball the offer in hopes they will accept it, because they can no longer wait to fill a vacancy.   

If the parties fail to complete Settlement and Closing within fourteen (14) days of the Settlement Date (including any amended Settlement Date agreed to in writing by the parties) or to otherwise extend the Settlement Date by written agreement, then the Delaying Party shall be in breach and the Non-Delaying Party may terminate this Contract and shall be entitled to enforce any remedies available to such party under this Contact for the breach."

Since taking the case, she has been able to extend the evection time to 30 days but is still trying to find a long term housing solution for approximately 20 residents.    

She laughed at me when I told her I would buy at somewhere under $10k since I'd need to pay to extend the 24' wide street 40' and clear the trees.