When two or more properties are dependent on each other to close, thus concurrent closing is initiated.
Homes that rely on each other to close is a unique, but not rare, situation. A Concurrent Closing is when these two (or more) properties are dependent on each other to close. For example, the first property funds and records and the proceeds from that transaction are used to fund or partially fund the second transaction so it can then record. In some cases, recordings exist in which the second transaction is not dependent on funds from the first transaction. In this case, the two record back to back without any delay.