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Many times, the seller will sign a contract to sell their home, and at the same time, they'll sign a contract to buy a home. Keep in mind that both contracts are legally binding and the closing have to occur on the closing day of both contracts.

 

Best way to accomplish this is to put a contingency clause in the second contract that the purchase will not occur until you sell the other contract. This can get a little complicated. This is maybe an instance where you might want to talk to an attorney to make sure that it's done correctly.

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