My parents want to buy a house but before we do we must sell our house to pay for the house we want to buy. The guy selling the house we want to buy wants the house to be bought by the end of july because he’s leaving the country. The thing is our house isn’t on the market yet and we are only having people for first time coming to see our house this week. We know it’s not realistic to assume someone will buy our house within 2 months. Since the owner wants to have his house bought by end of july and we can’t assume our house will be sold by end of june/july Is there such thing as a contract where i sign that i will buy his house as soon as i sell my house?
My house is the best house in the neighborhood so realtors say my house will sell fast. But how fast is the question.
About a contract like that one does it exist? can it be made or will the attorney say there’s not such thing? If the contract or policy exists what’s it called?
Lonestar said:
Feb 05, 09 at 9:36 amyes, there is an available contingency clause in the sales contract (of the house your buying). Basically, it’ll say you’ll only buy this house if your house sells.
but the seller has ever right to refuse your offer to buy if you need such a contingency clause.