In these situations, we’ll work it out for you. What happens is we schedule your sale, the sale of your property, for the morning. We make sure that closes in a timely manner. We take the funds that you would receive from that closing. We hold those funds and we utilize them to close later in the day for the property you’re purchasing. Now, banks control the money and they have the final say as to when and where closings take place, but by working with us early on, we can arrange with the banks to make it all happen. So it’s important to let us know if that’s going to be your situation and that you intend or are hoping to sell and buy on the same day.
Marc N. Needelman is a real estate attorney, located in Hartford, CT. Contact an experienced lawyer with questions and get a free initial consultation.