Advice on extending buyer's loan contingency

[Bob H.]

I am selling a house in the Austin area. Originally the buyer wanted a 21-day loan contingency period. During our negotiations I got that reduced to 14 days. Later, when the buyer's agent asked to extend it by a week, I agreed, thinking I was no worse off than if I had accepted the original period.

Now, however, the extended contingency period is about the expire, and apparently the buyer's lender is balking and unsatisfied with some documents. I would not be surprised if the buyer's agent asks for another loan contingency extension.

The earnest money is 1 percent of the sales price. I am thinking about what to ask for in exchange for a longer loan contingency -- assuming the buyer's agent requests one. A higher amount of earnest money would benefit me, but only if the buyer let the new contingency period lapse and then did not get the loan. If the buyer canceled within the new contingency period, I would be left with nothing after having the house essentially off the market for several weeks.

What else, if anything, might I want from the buyer in exchange for allowing another loan contingency extension?