For many people, buying a home is contingent on selling the old one. When you need the proceeds from the old property to buy a new house, you are juggling many variables that can impact and even ruin the outcome. Many who are familiar with the real estate world have heard of the term “double closing.” This is when you buy a home on the same day you sell your old one. In the best circumstances, you would close on your old house in the morning and close on your new house in the afternoon. Funds will be transferred and you will have the finances needed to complete the process and buy the house a few hours later. Unfortunately, things may happen that negatively impact a smooth transition from one property to another. If you are engaging in a double closing, you face many unforeseen variables regarding the old home’s buyer and the new home’s seller. If possible, a double closing is something to avoid. When you can close on one house earlier than you buy another, you allow yourself the benefits of a buffer to troubleshoot any issues. If a double closing is a reality for you, contact an attorney to guide you through this enormously complex undertaking and help you achieve your life goals. Marc Scollar, Esq. can help you navigate the feat of a double closing, skillfully representing your needs while easing your stress. Knowing you have the right legal support can mean a world of difference. Contact Marc Scollar, Attorney at Law for a consultation today.
For most homebuyers, it is important to close on the old house before buying a new home. As stated above, most need the proceeds from the old house to pay for the new house. For many, the mortgage approval is contingent on the sale of the old house. Some take on a double closing so that they can avoid a double move. Most people will want to avoid the need to stay with friends or family, at hotels, or even rent property in the interim. They would like to move from A to B in a smooth process. It is very important to have an attorney that can handle the obstacles of the day, easing your stress, effectively representing your interests, and help you see your vision come to fruition.
A double closing is a huge undertaking. Many financial experts say to avoid a double closing at all cost because of the multitude of issues one can face. With the right legal representation, you have the best chance to overcome the day and smoothly transition from your old house to your new one. If you need an experienced and skillful attorney to take on the complex process of a double closing and help you sell and buy a home on the same day, do not hesitate to contact Marc Scollar, Attorney at Law.