One Duplex Two Sellers One Deal?

Question

Hi folks,

I want to purchase a duplex and each half is owned by someone different. They are selling however at the same time.

Anyone I can do one closing??

Chris Davidson · Answer

@Abe Alam Yes if you can get each seller to agree to the same close date and get all the ducks in a row then should be able to close on both at the same time, but it would likely be two different closings. If you are asking getting one loan for both properties I would get with your lender. If Cash no issue, but still going to be two different closings as its two different properties, but could be a simultaneous closing.

Ned Carey · Answer

@Abe Alam Yes it can be the same time, but it will be two different closings. The title (or escrow company depending on where you are) will have to do all the same work for each property separately. They will do two title searches, create two new deeds, etc.

It is conceivable a lender will do one loan for both properties. But that would probably absolutely require both properties settle at the same time.