Question about Buyer's Property Contingency and Relase Clause
Hey everyone, thank you so much for all the help you've given me. I hope I can give some back when I become more knowledgeable. So I got a question for you:
In the state of California, a seller accepts an offer from a second buyer and notifies the first buyer under a release clause. The first buyer decides to remove the sale of buyer's property contingency. What happens? (underline time sequence and make time line if necessary)
A. The seller and first buyer will complete the transaction, assuming the buyer can still come up with a downpayment
B. The good faith deposit will be refunded to the first buyer
C. The second buyer will then be obligated to complete the transaction with the seller
D. The second buyer will be entitled to purchase the property only if she has made a good faith deposit
I'm torn between C and D.