Negatives to later closing?

DisMomKY

Mouseketeer
Joined
Jan 1, 2020
We are looking at buying a second contract and would be ready to close on a second til we saved up the cash around April/May. Are there any downsides to going ahead and finding a contract that can’t close til later? Do we still put down a deposit when we make the offer? I’m just trying to understand how it works. Thanks!
 
I hVe bought and sold this way. You do still put down deposit as it goes through ROFR right away.

About 2 weeks prior to the delayed closing date, you would get your paperwork and at that time, you pay the balance. The contract then closes the day of or after it’s listed date.

The only drawback could be the seller backing out and you having to go back to square one. But that is always a risk and happens very infrequent
y.

I bought in June with an end of November close date and it was nice not having to worry about payment.
 

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