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Updated over 3 years ago on . Most recent reply

User Stats

11
Posts
2
Votes
David Morrow
  • Investor
  • Ashburn, VA
2
Votes |
11
Posts

Purchase and Sales Contract - Sale Pending Purchase Contingency

David Morrow
  • Investor
  • Ashburn, VA
Posted

If BoB Noob (fictional person) has a signed Purchase and Sales Contract for property X with Dwayne, can BoB enter a 2nd Purchase and Sales Contract on that same property X with Larry.  The 2nd contract would include a clause stating that Bob's sale to Larry is pending BoB's purchase of property X from Dwayne?  One more detail...Bob has deposited 25k earnest money with Dwayne's title company. The property cost 100k.

Most Popular Reply

User Stats

11
Posts
2
Votes
David Morrow
  • Investor
  • Ashburn, VA
2
Votes |
11
Posts
David Morrow
  • Investor
  • Ashburn, VA
Replied

@Jesse LeBlanc  Thank you for the response Jesse. I did move on to another title company that was recommend to me =)  Say the seller changes their mind and refuses to sell and I was set to double close with transactional funding...what are some possible solutions to that challenge? 

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