This seems illogical.  What starts poorly ends poorly we often say. 

Uh, no. The answer is absolutely not! Agents need to breathe life back into the contract, with a signed commitment to extend and then GO!

Sounds like you inherited a deal that was falling out. Does working miracles appeal to you? You could be a hero. If you pull it off.

Need more facts here.  "next to no notice"  "could not meet the closing date"

Define what you mean in this situation as "out of contract" 

In my mind, there is conflicting information here.  If the contract is not performed per the timeline and no extension granted - then it would not make much sense to work it without an extension.

Sounds like somebody's lost a few screws regarding contract law.  Just get it back under contract (or not) and then move forward. Why would you do all the work for a basically worthless contract?

No, not if I were you. Collect all the fees now before it blows up. Seems like that's not the best way to do business.

Sometimes we work on trust and faith that others will get the needed extension, do you trust this agent to get it done?

Sounds like lender 1 couldn't perform at the 11th hour and they had to switch lenders with a few days left.  Been there (thankfully had the listing).  Buyer paid a per-diem for the extension, loan broker screwed up and ended up paying it for them.  Took an extra two weeks.  Sometimes what the buyer side is needs to be able to say before asking for an extension is "It's with a new lender and they're working as hard as they can to make it happen"

 Get the parties to sign an extension.   If they don't, then no I wouldn't spend any time on it.

Hmm.  That's certainly a rough situation for a lender, but I have certainly put a lender in that situation myself as a listing agent.  Of course, in so doing, the seller knew we would have to extend closing.  It was a matter of deal or no deal.

I help clients all the time without a contract.  For me, it helps build good will.  I have never had a client working with me, for example, getting their home ready to list, and then not use me as the listing agent.  In fact, the last time I did it, when it came time to talk commissions, my clients both sat back and said, "that is not enough."  I didn't follow their generous advise, but I have clients that will be my advocate for years.

The question, 'Would you expect someont to work on a dal that's not under contract?"
My answer is, "IT is done ALL THE TIME."
Now we need to create clarity regarding "work on a deal."
However, threats and ultimatiums typicly result in the backup getting a chance to grab at the gold ring.
Protecting the homeowner who hired a REALTOR often requires courage and a bit of non-conformance.

No... you can't misrepresent what you can or can't do. As a buyer's agent I wouldn't pin hopes on anything a seller might or might not agree to in future.

Our job is to manage the expectations and, as you've noted, this isn't reasonable.  If you support it and "just go with it", you'll be the one criticized in the end and your sellers will be super frustrated. Stay strong! 

"Someone" might John, not me.

Kind of vauge on circumstances, if there is a way to continue working a deal with a positive outcome for my client I would continue with caution and be ready with another plan of action.

Your question is vague, pretty hard to answer without all the facts.

Noooooo! Get the extension so the critical dates can be met . . . lack of planning on their part does not constitute emergency or futility on yours! And banking on the possibility of an extension is like falling in love with someone's potential. LOL

I will tell you i am seeing this more and more. Buyer agents trying to get their buyers offer accepted by putting a quick closing and they are no where able to close that quick. As a listing agent i try to catch that. When i have a buyer and see other listing agents getting taken, it is a lack of expereince that hurts their sellers

I have and I probably will again.  Generally if a timeline can be given parties will sign an extension, but sometimes you gotta "see where you are" before you know where the end is to give people an educated answer.  So would I continue on and on with no contract, nope, but would I do enough to get the answers for a true timeline,  you bet I would.

I closed a purchase last week. The lender did not meet the original date so we extended, John Meussner 

I have a close set for the 1st that was supposed to close last week...again...lender problem.

Yes, I think you should work on the transaction. However, after reading your additional comments, it appears that is more drama involved than just a date problem.

I make exceptions to every rule if found to be reasonable & prudent to do so

If sellers can't meet the closing date, counter. No sense in agreeing to something that you know won't happen.

I'll assume they went to their buddy/relative/newby/onlinelowball and it didn't work out? Here is what I would do: in email sent to listing agent, buyer's agent, buyer, title and gods of the deal: I can close this deal in fifteen days if buyer gives me xyz and seller lets appraiser in tomorrow morning before ten AM. Although your contract says you need to close in five days, I will not commit to that miracle.  Everyone must open email daily and respond in an hour. I communicate daily on our website for this deal and by email. You can look on the website and see every step we take- when we called hazard insurance agent, when we called the HOA... You may call me from 6 AM to 9 PM but if you are calling during 8-5 hours  you are take me away from the deal. I'm a wizard and a sweet handler of all paperwork, trust my team to carry you to the finish line.  I would not turn the deal away, everyone deserves my whole soulful effort to buy a home but expectations are set. I close a day before the time line and a little cheaper than I said.   Take pie when pie is passed, even if you don't like strawberry rhubarb.