Can you be in contract on 2 short sales at the same time while waiting for one of the short sales to be approved?

The short sale addendum states there is no obligation for bank to approve the short sale .

Asked on July 21, 2012 under Real Estate Law, California


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

And what would happen if both of the sales were approved?  What would you do?  You can not sell the same piece of property to two different parties and you could be caught in a legal brew haha.  Please get legal help here with what you are doing.  To protect yourself.  Good luck.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.