Need Insight On North Carolina Deal
Hello Board
I am doing a deal in NC and was wondering how to arrange the close. I already have an agreement on price and intend on selling higher. My question is how to get the difference out of the deal. The problem is someone told me that Options are not allowed in NC, and in the event they are how can I structure protection on my interest in between the end buyer and the seller. I intended on getting something signed from my seller allowing her to deal direct with my buyer but I believe once she sees the price I sell for she will back out of the deal. How is the easiest way to get this done without a simultaneous close in the state of North Carolina?
Double Close Robert. I called you in response to your PM
maybe a possible assignment
I was also wondering the same thing. What would be your options???
bscivolette, how do you accomplish a double close if the incoming buyer has a lender?
If you have a Lease Option on a property, you have equitable title, so that grants you the right to sell it. The Lease Option becomes a bilateral agreement, so a separate Purchase and Sale Agreement is not required; however, you will need a title company or attorney who knows how to escrow the Deed and also a lender who has no seasoning requirement.
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