Closing on a property on Monday... but it's under contract twice?

3 Replies

Hey BP-

Title kind of explains it already, but I am working with a wholesaler to close on a property and he is urging me to close quickly because the seller went under contract with another wholesaler. I am familiar with the other party and they are not super ethical because I have worked with them before. The first contract has an affidavit recorded at the courthouse, but will this present any problems to me? 

How is this even possible/why would a seller knowingly go under contract twice at the same time. I searched the forums and couldn't find any similar experiences.

Thanks in advance.

-Tom





@Thomas Moran Once you close the second contract means nothing to you. His contract was with the current owner.....he would no longer have title to be able to sell....the other wholesaler contract is not with you as seller so he couldn’t force anything. 

He would have some potential course of action against the seller, personally, but you wouldn’t be at any risk. 

Now, if the also recorded a memorandum of contract, the water gets a lot muddier.