In my local MLS, your offer would technically be "contingent" until approved by the lender, then it would be "pending".For the purposes of clarity, the sellers can only have one fully executed contract at a time.

Good luck, hopefully someone with a legal background or more experience can chime in to give you some further clarity!

Trying to do a DIL is a bad idea without clarity.  

I plan on calling the county to get clarity around this, but figured it couldn't hurt to reach out here to see if someone has ran into the same question or could shine some light on what the process is for a 30k+ flip in Mecklenburg county

Thank you for the clarity, Derek!

Once you define those parameter you will have more clarity on what to research and invest in.

obviously ideally, i would have found this property on my own and wouldn't have had realtors involved, but I didn't know owner financing was a possibility until i happen to meet the owner while my realtor was showing me the property. any clarity would be much appreciated. thanks!

I wanted to add some clarity to the comments on San Diego STR regulations.The city council passed a regulation (couple years ago) that severely limited STRs where the owner was not resident on the property.

Clarity - tell them no pets and transition when you can. 

Name and a real estate name for clarity?