Home Buying in 30344>Question Details

Eileen, Home Buyer in 10549

Can I close on a property I am selling and close on a property I am selling the same day?

Asked by Eileen, 10549 Thu Mar 7, 2013

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9
Procedure for closing on sold property and purchased property same day
0 votes Thank Flag Link Sat Jul 27, 2013
Hi Eileen, the answer is yes! I have closed several "back to back" closings in my career. I have even closed a back to back to back once. They are always a little tricky and can be somewhat stressful trying to make sure all the stars line up in their correct places, however it can be done. Make sure you have a good realtor, lender and attorney at your side. If you have any further questions feel free to contact me.

Best to you!!

Amie Bozeman, Realtor
Better Homes and Gardens Real Estate Metro Brokers
770.855.5590
Website: http://amiebozeman.com
Email: amie@amiebozeman.com
0 votes Thank Flag Link Wed Mar 13, 2013
I think you mean close a a property you are selling and one you are buying on the same day...


Yes you can, but you will have to have a team of dedicated professionals on all sides.

The buyer for the home you are selling has to have a lender and a realtor who are on task. You should make sure that ALL contingencies are removed in a timley manner.

As for the home you are buying, you have to make sure your lender can get the loan through underwritting quick fast and in a hurry.

Make sure your agents are in constant conatct with the "OTHER" parties. Keep close contact with ESCROW on BOTH transactions.

Best of Success to You!!!

Kawain Payne, Realtor
0 votes Thank Flag Link Sat Mar 9, 2013
Hello Eileen. Yes, it is possible! If this is what you desire, try to have your attorney coordinate it.

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.

Wishing you all the best,

De Vonte Williamson , LSA
Proudly Serving Long Island
Coldwell Banker Residential
(631)384-3695
http://cbmoves.com/DeVonte.Williamson
http://devontesellsny.wordpress.com/
DeVonte.Williamson@cbmoves.com
"I Stand Behind Getting You Results!
0 votes Thank Flag Link Fri Mar 8, 2013
Hi Eileen,

That is called a back to back closing, and yes, if they are set up right, it can be done - if not, you have to qualifiy for two loans.

I have done several of these working with builders and investors.

Call me if I can help you.

Best,

Robert Whitfield
Broker/Owner
Professional Buyers Broker
New Home Construction Expert
ICC Code Certified Building Inspector
Advantage Realtors
678-585-9691
RobertWhitfield.com
TheHomeBuyersRep.com
Corporate Relocations | New Construction | Luxury & Investment Properties
0 votes Thank Flag Link Fri Mar 8, 2013
Sure, it's possible....But of course depend on your exact situation and timing of the closing attorneys...

Laquita Baez
Better Homes and Gardens Real Estate Metrobrokers
770.901.0956
http://www.LaquitaBaez.com
0 votes Thank Flag Link Fri Mar 8, 2013
I think you are asking if you can close on a property that you currently on then leave that closing and then go to the next closing and purchase that property. If so, then that is how it is it is typically done. Otherwise, you would have to be able to qualify for two mortgages at the same time if the first property has not closed an sold yet.

That timing is critical and can be difficult to achieve in today's market.

Working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your mortgage options. To get Pre-Qualified for your purchase, you can submit your request online at http://www.rodneymason.com.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes Thank Flag Link Fri Mar 8, 2013
I think you meant buying. Yes you can but what happens if there is a hiccup in the selling one. If you need the money for the second deal you are going to be stressed. Spread them out
0 votes Thank Flag Link Fri Mar 8, 2013
Yes you can close on a property you are selling & buy another at the same time, just be sure to disclose at all times.
0 votes Thank Flag Link Thu Mar 7, 2013
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