Is a double closing possible?

[Nat C.]

I submitted an offer on a property which was accepted. After inspection I decided I didn't want to proceed with the deal. One of my best friends inspected the property and said he wants to buy it. The contract says I can't assign the sale. What methods can I undertake for my friend to buy the house instead of me? I'm of course not making any profit here. Can I do a double closing and can anyone explain the finer details to me?

[Christopher Telles]

Yes you can have a double closing or what I've always referred to as a double clutch.

If you can't assign as @Ryan Dosseysuggested then you'll need to either be ready wiling and able to close all cash or find a transaction lender for the closing.

Keep in mind you will have cost in the closing so youmight want to let your friends know those costs will be passed on to them and recovered through the closing. That's assuming you're not intending to pay the costs on behalf of your friend.