How Do You Coordinate the Closing of a Date and Purchase on the Same Day?

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How Do You Coordinate the Closing of a Date and Purchase on the Same Day?

If you need to sell your home and need to use the proceeds from the sale of your home to purchase your new home, you will need to make sure that information is known to everyone up front. Specifically, you’ll need to let your realtors know as you are looking to purchase your home and at the same time you’ll need to let your attorneys know as well. Your attorneys need to know so that the contract has provisions whether it needs to be contingent on the sale of your home or whether it needs to coincide. Another important factor will be whether your financing is a requirement of selling the home or not. You’ll need to speak to your lender also as to what they will require. At the same time the other parties, the individuals who are purchasing your home and those who are selling you the home that you are going to buy need to know that the coordination will need to take place and then accordingly on the day of closing, the sale of your home will have to take place usually earlier in the day and then the purchase of your home at the end of the day to coordinate the closings.

A double closing is a major undertaking. Though it has been done and it is possible, a double closing has many factors that can impact the process. It is understandable that people want to avoid a double move or the need to stay in a hotel, but when one party needs a mortgage to purchase the home and the seller needs the proceeds to purchase their new home, it is imperative to have an effective law firm to guide you through the process.

Juan C. Velasco, Esq. is a trusted attorney who has been serving the New Jersey area for over 25 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.

About the Firm

Juan Velasco, Esq. has over 25 years of experience passionately practicing law. Juan Velasco provides legal counsel to individuals, corporations, and institutions concerning substantial legal and financial matters.

Velasco represents clients in formal and legal proceedings, including negotiations to ensure amicable settlements that benefit their needs. He has over 2 decades advising clients concerning legal options available in complicated transactions. Mr. Velasco has drafted countless contracts and supporting documents for his New Jersey clients. He responds to inquiries, assisting clients in determining the most favorable position. He also provides legal guidance concerning appropriate business actions.

 

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1870 Route 27 – Suite 202
Edison, New Jersey 08817

Our offices are conveniently location on Route 27 in Edison, New Jersey, Attorney Velasco is ready to actively protect your interests. If you are in need of a passionate and effective lawyer, contact Velasco Law Office.




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