Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 2 years ago on . Most recent reply

User Stats

47
Posts
19
Votes
Rahul Gupta
  • Investor
19
Votes |
47
Posts

What happens when the contingency is not met

Rahul Gupta
  • Investor
Posted

I am wondering what happens if i try to sell my primary residence house  and get another primary residence (Let's say a duplex) while i have a mortgage on the first one. 

From what i understand, i can have a contingency clause while buying, which says that i will only be able to complete the transaction if my first house sells. What happens if the first house sells and some reason, the financing falls through before closing on the one i was trying to buy(the duplex)? 

How to make sure that we don't lose the house we currently have in the process and not be able to get the new one for some reason.

Thank you 

Loading replies...