Updated almost 10 years ago on . Most recent reply
What contract to use in this situation?
Hey BP!
I have a question on which contract to use in this transaction.
I am a licensed realtor so I just used the TREC 1-4 contract with a leaseback for the tenant for the purchase of a SFR. The contracts are good and title has opened.
If I want to do a double closing what contract would I need to use to do that? I do not own the property until Jan 7th. So if I have the contract signed today I am not currently the owner of that property yet. How would I fill out that contract. Would I be the seller on this double closing scenario even though I currently do not own the home until Jan 7.
I do know I can assign the contract/property. If I chose to double close though, how would that take place? If I do assign the contract/property is the assignment agreement all I need for it to be binding?
I appreciate all of your help.