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What is a Concurrent Closing?

A concurrent closing can make it easier to sell a property and buy a new one at the same time. Here's what you need to know about this nuanced strategy.

[Updated: Jun 08, 2021 ] Jul 10, 2020 by Aly J. Yale

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Pros Cons
• Selling first ensures you have the funds for the down payment and closing costs on your new property. • Closing two transactions at once requires impeccable timing and communication.
• It streamlines both transactions and reduces hassle. • Delays on the first transaction could push back your purchase.
• Having your first mortgage paid off may make it easier to qualify for a new loan. • Problems with the first transaction could also mean losing out on your new home.

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