can a second contract on a house be denied if someone else already signed a contract?

Judy
Home Buyer
Stephens County, GA

Answers (2)
James Gordon PBD...
Agent
Butler County, OH

Judy yes a second contract can and must be denied if there is already a signed contract on the house. The signed contract is a commitment to sell the property and the seller can not sell the property to two people at the same time!

Web Reference: http://www.Find1Home.com
Sun Oct 11 2009, 04:35
Mack Perry
Agent
Atlanta, GA
FIRST ANSWER

Hi Judy,

If a contract has already been accepted on a property then that contract must be followed through with. The seller can however negotiate and come to terms with a "Back-Up" contract that would be in effect should the first contract fail to close. This is not a very good strategy for a buyer as a buyer has no certainty that they will even have an opportunity to close on the property while they are investing time and money for inspections, appraisal etc. Hope this helps.

Sun Oct 11 2009, 02:55

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