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Did anyone BUY a home BEFORE they sold the one they were living in??
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Re: Did anyone BUY a home BEFORE they sold the one they were living in??
i have not...but we are bidding on one where the person has bought a place already...
and they have a pretty big range for asking price...we bid low...b/c they have a lot of conditions...like having a short escrow...having home inspection done within 24-72 hours...etc...
and they have a pretty big range for asking price...we bid low...b/c they have a lot of conditions...like having a short escrow...having home inspection done within 24-72 hours...etc...
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Re: Did anyone BUY a home BEFORE they sold the one they were living in??
Karen - I love your saying and picture in your avatar!!!!!! The house is so cute!!!!
Actually, my parents bought their condo out east before they sold the house we lived in. Our house sold in three days. They did know they were moving for a year, but put the house on the market three months before and it went. Do you think your house will go fast?
Anyway, hope you are enjoying the house hunting.![]()
Did you find a house?![]()
Actually, my parents bought their condo out east before they sold the house we lived in. Our house sold in three days. They did know they were moving for a year, but put the house on the market three months before and it went. Do you think your house will go fast?
Anyway, hope you are enjoying the house hunting.
Did you find a house?
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Re: Did anyone BUY a home BEFORE they sold the one they were living in??
i think it depends on whether or not you need the proceeds from the sale of the old house to use as your down payment on the new one.
we want to sell our condo next year and i am hoping we can sell and then buy in a very short time frame, but i think technically i have to pay off the condo's mortgage before the bank would give me another (although i think they can be done similtaneously).
we want to sell our condo next year and i am hoping we can sell and then buy in a very short time frame, but i think technically i have to pay off the condo's mortgage before the bank would give me another (although i think they can be done similtaneously).
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Re: Did anyone BUY a home BEFORE they sold the one they were living in??
Cindy,
We've seen one I REALLY like, but we're still looking. DH isn't convinced yet...
I think this house will sell very quickly. It's in a small neighborhood that's very hard to get into. Most homes are sold by word of mouth, there's very little 'real estate' activity.
Also, an agent told us that we're in a highly desireable area, and should have 'no problem selling and getting a good price.' So hopefully we won't have any trouble.
We definitely need the $$ from this house for a downpayment on the new one, but our RE agent told us we can get a bridge loan. We would borrow against the house we already own to finance the down payment on the new house, and then just pay it all back when the old house sells.
Sounds complicated to me...![]()
We've seen one I REALLY like, but we're still looking. DH isn't convinced yet...
I think this house will sell very quickly. It's in a small neighborhood that's very hard to get into. Most homes are sold by word of mouth, there's very little 'real estate' activity.
Also, an agent told us that we're in a highly desireable area, and should have 'no problem selling and getting a good price.' So hopefully we won't have any trouble.
We definitely need the $$ from this house for a downpayment on the new one, but our RE agent told us we can get a bridge loan. We would borrow against the house we already own to finance the down payment on the new house, and then just pay it all back when the old house sells.
Sounds complicated to me...
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Re: Did anyone BUY a home BEFORE they sold the one they were living in??
I sent you email. ![]()
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Re: Did anyone BUY a home BEFORE they sold the one they were living in??
We bid on a house and it was accepted before putting our house for sale. In fact, we needed to do some work on ours before we could sell.
It was a little scary and nerve wrecking -
we too were told that our house would sell fast - and thank god it did. However, not without a few gray hairs.
I would put your house on the market while you are looking - if I were to do it again, I would put mine on the market while I was looking.
You really should know what kind of bids your going to get - it will give you a better idea on what you can afford.
It was a little scary and nerve wrecking -
we too were told that our house would sell fast - and thank god it did. However, not without a few gray hairs.
I would put your house on the market while you are looking - if I were to do it again, I would put mine on the market while I was looking.
You really should know what kind of bids your going to get - it will give you a better idea on what you can afford.
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Re: Did anyone BUY a home BEFORE they sold the one they were living in??
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Re: Did anyone BUY a home BEFORE they sold the one they were living in??
I know a friend of ours sold his condo before his house was ready. I believe he actually sold and closed the condo and rented back until his house was ready to move in to.
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Re: Did anyone BUY a home BEFORE they sold the one they were living in??
We had our house on the market while we were looking for the new house. It worked out really well. We even coordinated the closings for the same day, the sell in the am and the buy in the pm.
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Re: Did anyone BUY a home BEFORE they sold the one they were living in??
Sort of. We found our house before putting our CoOp on the market. I knew the CoOp would sell fast so I wasnt worried. I listed it as an open house in Newsday the week after we found our house. We had the CoOp in contract before the house!
Its still a sellers market. As long as you are realistic about your price and terms your house should sell with no problem.
Its still a sellers market. As long as you are realistic about your price and terms your house should sell with no problem.
