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Selling first house to move to another

DietCoke1

Posted 5:33 pm, 11/21/2016

As others have said, you can make an offer on a house you like with a contingency of your house selling. I'm not real estate agent, but if the seller agrees, there can be a 30-day contingency that your offer will be accepted if your house sells within that time period. Also, you need to make sure you get enough for your home so that you can afford the next one, so make sure to have the bottom-dollar figure in mind before negotiating.


A couple of things: One, make sure you realize that the bigger the home, the more the maintenance: the yard may take longer to mow, more gutters will need to be cleaned, more paint, higher heating and cooling costs, etc.

Second, just because you can afford something doesn't always mean to go buy it.

My final advice? Live as cheaply as you can and throw money on your debt as hard as you can go. Save up as much money as you can stand and put a huge down payment on a really cheap house, and don't get a mortgage for longer than 15 years.

Best of luck!

Oogie

Posted 8:22 am, 11/21/2016

Making more money now, so can afford larger payments. But what happens if the income stops?
Pay off the mortgage you now have, save for down payment on the next house. Buy it and have one payment. Sell the house you now have and pay that toward the mortgage. When that is quickly paid off, start saving for retirement. Sociaa Security will not support you.

IN DIRE NEED

Posted 9:07 pm, 11/20/2016

You will need to take a hard look at your home first. At the moment you have an emotional attachment to your home. You need to let go of that attachment. It is going to become your "house" and someone else's "home". An impression is formed within the first 30 seconds when a potential buyer first lays eyes on a home so make the front/entrance as pretty as possible. Spring is when a lot of buyers start thinking of buying a new home. If the front door needs painting, front of the house needs painting, then completely paint the outside. Paint the inside if it needs it. Make sure carpets are in great condition. If you have a lot of items everywhere, put it in storage. The potential buyer needs to be able to see the positives, to see this house as their own "home". You are going to move after all so this will get a jump on that also.


The very first thing most buyers start doing is looking at the positives, asking could this be our home? Then they start looking at the negatives, what they will have to fix/replace to make it feel like their new "home" and to make a reduced offer from your asking price to make them feel they are making a really great deal. Your Realtor should be one who thinks "staging" is important. Making the house look "ready to move into". Think about your new home if you are going to buy one already built. How much work do you want to do to it? Most buyers don't want to do much unless they are looking for a "fixer upper".

Get your Realtor as soon as you decide which you will be doing, especially if you are buying a house already built. If you choose to build, your builder will be able to help you with which way to go as far as the contract and selling yours. Good Luck!!! Remember this: Sellers want as much money as they can get (remember the emotional attachment to your "Home" means more to you, so making it a house will help in the purchase/selling price) and buyers want to buy for as little as possible (they have no attachment) Your house will sell faster if it is priced right. The Realtor will use houses in your area that have already sold and are comparable to yours. That means square footage close to yours and number of rooms close to yours. Again good luck.

shagbag

Posted 8:42 pm, 11/20/2016

It seems risky but the majority of home owners that up or downsize usually workout a plan with their bank and start building their new home as soon as their old home is closed on. A average size turn key home can be completed in six to eight weeks easy. The housing market in Wilkes has been picking up for the last couple of years. I don't know where the money is coming from but people in Wilkes are starting to recover from the 08 housing crash. If you are in good standing with your financer (which I'm sure you are) just meet with them. They will help with making a game plan. I know for a few years after the housing crash banks would refuse to lend even with good credit. I read stories about people that were very lightly leveraged with a credit score north of 800 and the banks that were bailed out with tax dollars would refuse to lend to them. The government under Obama did step in with regulations that pushed them to free up lending or risk losing their tarp bailout. That was a good thing he done by standing up to the banks but we shouldn't have bailed them out to begin with but that's a different thread for another day.

If you dream of another home and you are in good standing your dream is with in reach. People like you are what turns to economy around and banks have an obligation to support you for everyone's sake.

Good luck.

Bestill

Posted 8:10 pm, 11/20/2016

Get a realtor. They will walk you through the process.

chendo

Posted 8:07 pm, 11/20/2016

".But I can't sell my current house until I have a new place either bought or built, or I might end up without anywhere to live for awhile."

Rent until you find the perfect place at the perfect price

springtime123

Posted 5:20 pm, 11/20/2016

Sale your house and rent. Better yet, don't get a new house. The only reason to buy a new house is if you need more or less space. If you are buying a new home just to impress the Jones, the Jones could give a **** about you no matter what you do.

aFicIoNadoS

Posted 4:24 pm, 11/20/2016

If you want to buy a home, then in the purchase, make it contending upon selling your home. If you want to build, find a place to rent during construction. Hire a Realtor, because you have no clue what you are doing, and that's their job.

1goddess

Posted 4:21 pm, 11/20/2016

Frist decide if you want to purchase another home or build.

Then put your home on the market, test the waters so to speak...you might be surprised it could sell quickly
In the meantime, if you should decide to purchase a move in ready home...you need to start looking now.

If you should decide to build, then start looking at plans now, choose a contractor...a reputable contractor to get estimates as to how much it will cost..

then approach your banking institution...they'll get you through the rest of it no matter what you decide to do.

A realtor can advise you as to how you wish to approach your lisiting options...there are many ways to sell your home and schedule a closing date that is acceptable for you and your potential buyer.

Good luck!

empowers

Posted 4:18 pm, 11/20/2016

Get you a new Autumn Ridge travel trailer at Countryside RV by Starcraft in Yadkinville. Got a brochure (just dreaming)..the price is 16.9. I could not buy one but they have unbelievable features and options.

You could live in that until you get another house built.

JC

Posted 4:02 pm, 11/20/2016

I'm still paying a mortgage on my house, but I make more money now than I did when I bought it and would like to buy or build a new house.

I can't buy the new house until the first one is sold, though, because I can't really afford to pay 2 mortgages while waiting for it to sell (which might take years in the local market, if ever).

But I can't sell my current house until I have a new place either bought or built, or I might end up without anywhere to live for awhile.

I doubt someone's going to buy my house and pay my mortgage, but let me live there until I find a new place, so it's a catch 22.

I know I'm not the first homeowner to want to move, though, so how is it usually done?

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