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Lobby General Discussion topic #13006855

Subject: "It's a complete gamble. Was the most stressful time of my" Previous topic | Next topic
soulfunk
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11004 posts
Tue Apr-19-16 11:01 AM

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22. "It's a complete gamble. Was the most stressful time of my"
In response to In response to 17


  

          

life. BUT the logistics of selling and renting for a year then buying were also pretty tough. We have two kids, so renting a place big enough for the four of us to be comfortable (plus all our stuff which would have had to be in storage for a year) would have been really stressful too, plus that stress would have been stretched out over a year.

We put our house on the market, and while it was up for sale had our realtor show us houses that we may want to buy, knowing we couldn't make an offer until we had a purchase agreement on our own house. Once we got that down, there were a few houses that we liked, and two that were at the top of our list. We got outbid on one but had the offer accepted on the other (all within a week of the purchase agreement on our sale.)

Our realtor was great at the timing and the negotiations. The tough part is that on both the sale and the purchase you don't REALLY know what day you'll close until the mortgage company calls with the clear to close which is a day or two before closing. We closed on our sale one week, had occupancy in our old house for two more weeks. Had a clear to close on the new house (with immediate occupancy) within that time range, but at the last minute the mortgage company needed an extra couple days for the title company paperwork. Including the weekend, we had a 3 day "homeless" gap. Thankfully my parents live in the area, so we stayed with them for a few days, had all our stuff in storage pods so they were flexible on the timing, and got in the new house after the weekend.

  

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when should you sell your house? [View all] , legsdiamond, Tue Apr-19-16 08:30 AM
 
Subject Author Message Date ID
You planning on moving?
Apr 19th 2016
1
man, ionno... just throwing it out there.
Apr 19th 2016
2
sure, if you tryna pay a mortgage forever.
Apr 19th 2016
6
this is our first home
Apr 19th 2016
8
      That's smart...i'm just not sure if thats what your boss meant.
Apr 19th 2016
11
           well, he kicked the appraiser out of his current home
Apr 19th 2016
12
                He neglected to have the place inspected before he bought it?
Apr 20th 2016
28
                     I think he bought a money pit
Apr 20th 2016
29
Your boss is working off a formula that has been debunked since the
Apr 19th 2016
23
      his luck ran out on the home he is in now
Apr 19th 2016
27
Ask someone who knows more but I am thinking it's a bad time
Apr 19th 2016
13
      across the board or in your market?
Apr 19th 2016
14
      Probably just Brooklyn. It's more expensive than Mahattan
Apr 19th 2016
18
           yeah Brooklyn is on some shit right now
Apr 19th 2016
20
      I'm going to ask around about this.
Apr 19th 2016
15
      Bubbles and dips vary greatly depending on the area.
Apr 19th 2016
16
           yeah I was thinking it's a gamble to try and time it just perfectly.
Apr 19th 2016
17
               
In the spring
Apr 19th 2016
3
Also...commission will eat a chunk of that $20K in a heartbeat.....
Apr 19th 2016
4
nah, DMV isnt off the table
Apr 19th 2016
7
when its to your benefit.
Apr 19th 2016
5
Start researching now.
Apr 19th 2016
9
great info... thanks
Apr 19th 2016
10
Figure out where you're going first
Apr 19th 2016
19
I would only do it if the numbers made sense
Apr 19th 2016
21
I would look now...
Apr 19th 2016
24
We sold when our value was double our equity
Apr 19th 2016
25
stories like this make me happy we bought a home
Apr 19th 2016
26

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