Buying A Home
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Timeframe

My husband and I just started looking at houses. We've figured out a budget and gotten a pre-approval. The only thing is we have to give 60 days notice on our apartment lease. We would really rather not have to pay for both places, but I'm not comfortable giving notice without knowing we will have a place to live. Is it at all possible to make closing drag out that long? Our apartment's month to month rates are ridiculous, so we don't want to do that either.
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Re: Timeframe

  • I would try to play for both places for at least a month. Closing sometimes changes. We were delayed a week whereas others have been delayed a month or more. I would take your closing date and make your move out date of your apartment at least a month after that closing date. Usually closing dates are not less than 30 days from acceptance of offer. And when you are submitting an offer closing date is a negotiable item.

     

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  • That doesn't really change our time crunch. I'd rather pay an extra month at our current rate rather than the month to month rate. We hear it's awful, but can't find out the actual dollar amount until late this month, and we'd have to give notice by 11/13. Our apartment sucks. 
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  • GeorgiaRiahGeorgiaRiah member
    100 Comments Second Anniversary
    edited October 2013
    You wouldn't really pay for both places because you won't pay for your mortgage the first month.  You pay your first mortgage payment at the beginning of the second month.  
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