Escrow & Title
In an Indiana concurrent closing (back-to-back closing), the second transaction closes immediately after the first. This is common when:
ATwo buyers want the same property
BA buyer is purchasing a new home contingent on selling their current home, with both transactions closing the same day✓ Correct
CA property is being subdivided
DA developer sells multiple units simultaneously
Explanation
A concurrent (back-to-back or dry) closing is used when a buyer needs proceeds from the sale of their current home to fund the purchase of a new home, with both transactions closing at the same time.
Related Indiana Escrow & Title Questions
- Which type of title insurance policy protects the lender's interest in a property?
- Under RESPA, a Closing Disclosure must be provided to the buyer at least how many business days before closing?
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