Escrow & Title
Vermont's 'simultaneous closing' involves two back-to-back transactions. The most significant risk is:
AThat both buyers are present at the same time
BThat the first transaction fails, leaving the seller in the second transaction without funds to close✓ Correct
CThat Vermont law prohibits simultaneous closings
DThat the title insurance coverage lapses
Explanation
A simultaneous (back-to-back) closing links two transactions — typically where the same property is purchased and immediately resold. If the first transaction fails to close, the second transaction is also jeopardized. Vermont closing attorneys must carefully coordinate simultaneous closings to manage this risk.
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