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

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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

Answers:

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.


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