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Updated almost 14 years ago,
ABC Close on a short sale
I have 2 short sale deals in the pipeline.
Both have purchase and sale agreements between myself and the seller. (The ab part)
My question is.
I will have a cash buyer lined up to sell these properties to on the same day I buy them (the b c part). When do I go to contract with the cash buyer? I'm thinking I have to wait for the lender to approve the AB sale or do I just go to contract with the cash buyer with him buying at the listing price or a lesser price that I deem acceptable?
My thought is that on the day of closing I Ishould ready to close with 2 signed contracts ready to go A to B. And B to C.
I just want to make sure I covered all the bases and have the order of execution correct and didn't miss the details.