Delaware/Maryland/New Jersey/Virginia/Pennsylvania · Member since 2019 · 33 posts · 9 votes
I know this is not a bright question, sorry I am new... but is it okay to sign two purchase agreements at the same time? Let's say I am under contract in one property (Maryland) and still waiting for closing, would it be okay to sign another purchase agreement from another property (Delaware) and these are both new construction single family homes from the same developer. What are the repercussions? Please help! And thank you.
As long as you can afford both you can sign away. If you mean that you can only afford one then you would be subject to the clause on the contract. Likely you would lose one of the deposits.
It’d depend on your financing. Are you using cash or a bank? If it’s a bank, what type of loan? Most banks have stipulations in the loan agreement that you’ve disclosed all of your financial obligations. I’d highly recommend that you ask your lender and/or realtor before signing anything. It’s simply not worth the risk.