First, why go through the charade of a second contract when the end result is the same? Second, I am assuming the contingency in the second contract is based on acceptance of the first contract, but if they are not signed simultaneously, the buyer could elect not to sign the second contract. You might find an attorney to draft these agreements, but I am not sure I understand the purpose behind them.
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I agree with both previous answers and if you are buying furniture for 30K and the house for 270K then yes . However this deal will be scrutinized by taxing authorities and the value should be reasonable.
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