Home Buying in Covina>Question Details

Nevergiveup, Home Buyer in Los Angeles, CA

To Joan Patterson. What do you mean when y ou say escrow cannot be opened until Steve's is canceled. Is there a law/Civil code/ Business code?

Asked by Nevergiveup, Los Angeles, CA Fri Oct 22, 2010

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If there is an existing contract to purchase real estate, we cannot legally enter into another contract for the same property. One can enter into a backup offer which will go into effect if the original contract/escrow is cancelled.

David Bibbee
First Choice Real Estate Service
Covina, CA
0 votes Thank Flag Link Mon Oct 25, 2010
I'm not Joan, but I know you can't have two escrows running concurrently. There can be only one buyer (deal) at a time. It would be helpful if you could provide more details. Perhaps I'm not understanding the question correctly.
0 votes Thank Flag Link Fri Oct 22, 2010
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