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Old 12-05-2011, 12:23 PM
164 posts, read 559,561 times
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Do secondary offers differ at all depending on if it is for a house versus vacant land? My understanding is that if a secondary offer comes in on a house during the inspection period, the first offer basically has to either drop its contingencies and go ahead with closing, or lose the house to the secondary offer. But with vacant land, a secondary offer does not supercede the first, and must wait until the first offer falls through for whatever reason to become binding. So with vacant land, the first offer does not need to hurry up and remove all contingencies due to the new existance of a secondary offer.
Am I correct?
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Old 12-05-2011, 01:10 PM
Location: Cary, NC
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Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

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