Home Buying in 01201>Question Details

Bill Todd, Both Buyer and Seller in 01201

Can a double closing or back to back closing where you will close the A to B transaction with the funds from the B to C transaction”.in

Asked by Bill Todd, 01201 Fri Oct 25, 2013

Massachusetts

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6
Of course! it is all in the preparation. Your title company needs to be aware, best is to have both transactions at the same title company. the lenders needs to be aware, especially if it is a bank that is notorious for late closings..
Communication is paramount but then you should be fine, I am doing them very often.
1 vote Thank Flag Link Fri Oct 25, 2013
Hi, Annette,
In Berkshire County, we use attorneys and not title companies, to close.
Anne
Flag Mon Oct 28, 2013
It is not easy, but can be done. Remember that lenders, for both the buyers of your home and you, likely will need a minimum of 45 days here to close, so allow plenty of lead time. Keep offers on both sides very "clean" to avoid as many things as possible that can cause delays. Have ALL your financial ducks in a row. Surprises are BAD and will cause delays. Get the attorneys of ALL parties on board immediately (Be nice to the paras!!!!) and let them know your plans. Your Realtor will have to stay on all the details, because a lot can happen to change schedules between signing the P&S and closing that can cause delays. this is where for sale by owners can run into the most trouble, because getting a property under agreement and getting it to CLOSING, and on schedule, are entirely different animals. Good luck. If I can be of assistance at all, I'd be glad to help.
1 vote Thank Flag Link Fri Oct 25, 2013
If your Realtor, lender, and Attorney are on the same page you shouldn't have a problem.
0 votes Thank Flag Link Sat Nov 30, 2013
Bill,

Yes, totally doable... although this scenario can sometimes be stressful! Any "delay" on either of the properties may impact the other. Make sure you have a good realtor and a good attorney to be on top of this.

Good luck!

Tom Lynch
Associate Broker, Massachusetts, New York, and Connecticut
Berkshire Property Agents
12 Railroad Street
Great Barrington, Massachusetts 01230
http://www.berkshirepropertyagents.com/
0 votes Thank Flag Link Fri Oct 25, 2013
Hi, while listing your current property for sale and finding a buyer for it, find the new property of your dreams in the meantime and coordinate both closings, so the proceeds from the sale will finance your new aquisition.
If you are searching in South Berkshires I will be glad to assist you.
Call me 413 528-6485, or e-mail: dagmarrealty@verizon.net.
Happy Halloween from Dagmar Kubes & Barnbrook Realty, Inc. in Great Barrington, MA.
0 votes Thank Flag Link Fri Oct 25, 2013
Yes. Happens all the time.
0 votes Thank Flag Link Fri Oct 25, 2013
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