Q: Can a seller sign two contracts for the same property. The first being a contingency contract.
If this happens and the potential buyer for the second contract is out of money pursuing financing prior to being told of the first contingency contract, who is responsible?
A: No one is responsible for anything since there was no damages to anyone under the contract. The second buyer ran out of money and couldn't get financing in order to purchase the property. The seller hasn't suffered damages since obviously the second contract had a contingency for financing in it no doubt.
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