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If they needed a purchase contract for that specific address, theyll likely need one for the new property. There may also be a time limit to apply the funds to a home purchase, which you may want to discuss with the 401k company to ensure you complete everything in time.
My husband borrowed from his 401k to use as a down payment for a home purchase which we received and deposited into his checking account. The purchase fell through because of a problem with that specific house and we had to cancelled the purchase contract. We will now be looking for another property to purchase. Do we need to let his 401 company know what happened, or just move forward with looking for something else to buy, since they previously requested copies of cash advance format in excel purchase contract of that first home that we ended up not buying.
Also, what if we need to now borrow more money from the 401k. Will they then ask about what happened to the first purchase.