Posted by River City on October 12, 2005 at 06:06:58:
I am not an attorney, however, it seems that whoever ended in title on the first closing would have to be the seller on the follow-up closing, unless that person warranted to someone else. Maybe Merchant would be able to answer this question???
Assignment vs simultaneous close - Posted by Cindy in FL
Posted by Cindy in FL on October 08, 2005 at 21:18:12:
Seller in a just about to lis pens situation. Signs a contract that is assignable for the property
Seller Joe Smith
Buyer James Doe
end buyer Sally Jones (buys from or pays assignment to James Doe)
assign for $16 profit
OR
close the first deal (Joe Smith & James Doe) and sell to Sally Jones for $16 K profit minus closing costs. NO Realtor involved.
If simultaneous closing who goes in the seller blank for the sencond buyer Joe Smith or James Doe