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Old 12-05-2011, 12:23 PM
 
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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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