put a earnest money on a piece of property on a lot i liked and posted a for sale by owner sign on a nearby road . the next morning a realator called with a couplewho wanted to see lot. they loved it at first sight.they wanted to write contract that second because area is extremly hot.anyone with land in this area can get about whatever they want.Ihave a subject to lawyors approval written in on my end because this is my first deal. contract is 65k more than my contract. my friend told me to write the same close date as mine so no money comes out of my pocket.? i queston this what if i have problem closing my end on time. or if i can not qualify for full amount on my end.?what advantages is there in closing on same date ?do i still have to qualifie for financing if done this way. what should my due dilligence on a lot be?
When is your close date on your offer on the property?
Just try to make sure that you get your side of the deal locked in, so that you can close it, and reschedule the sale side of it, to coinside with your purchase.
If they really want the property, they’ll be flexible with the closing. Remember you have to have title to the property before the title company or the lawyer can legally tranfer title from you to the new buyer.