Cincinnati Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Possibly stupid house buying / selling question
I could post this on the BAH board, but... I like you guys better, LOL.
DH & I are just starting the process of looking for a new home. We will need to sell our current home in order to buy.
I've never bought (or sold) a house before, so I'm a little lost (DH owned this home when I met him).
The one thing I can't figure out is... what happens if you sell your house, then you don't find a house to buy for a while?
DH initially said we'd get a small apt somewhere in the meantime. Then I reminded him that it's 2 adults, a toddler, 2 large dogs, a small dog, & a cat. In a little apt? I don't think so.
If it were just us, that would be fine. But mostly I can't figure out what to do with the dogs.
Seems like this would be a pretty common issue. Maybe. I just am confused at this point. Am I overlooking something obvious?
Also - any home buying / selling tips? We're just beginning the process & I am a total property virgin, so any insight is welcome.
TIA!
DH & I are just starting the process of looking for a new home. We will need to sell our current home in order to buy.
I've never bought (or sold) a house before, so I'm a little lost (DH owned this home when I met him).
The one thing I can't figure out is... what happens if you sell your house, then you don't find a house to buy for a while?
DH initially said we'd get a small apt somewhere in the meantime. Then I reminded him that it's 2 adults, a toddler, 2 large dogs, a small dog, & a cat. In a little apt? I don't think so.
If it were just us, that would be fine. But mostly I can't figure out what to do with the dogs.
Seems like this would be a pretty common issue. Maybe. I just am confused at this point. Am I overlooking something obvious?
Also - any home buying / selling tips? We're just beginning the process & I am a total property virgin, so any insight is welcome.
TIA!
Re: Possibly stupid house buying / selling question
We sold ours and didn't have a house to move into so we decided to build and moved in with my parents for a few months.
Anything can be negotiated. We actually considered asking the buyers if we could rent from them until the house was finished, but we just decided to move in with my parents and save some money.
It all depends on the buyers' situation. They may be moving out of an apartment where the lease is up and they need to be in the house at a certain time or they may be a new couple living with family and can wait until you find something else. It all depends and you will have to wait until you get an offer before you can hammer out those details. It seems that most people want occupancy at closing or a couple days after. We closed on June 12 and the buyers didn't want to move in until July 12.
I don't think there is any standard way of doing things becuase not everyone is in the same situation. I don't think you're missing anything. You'll just have to play it by ear...that is why buying/selling is SO stressful.
Good Luck!
Look into including a contingency plan on your offer to buy. Unfortunately, it's more likely you will find a hosue more quickly than you sell yours. Int his case, a loan officer would likely require a "contingent upon selling" clause so that you don't go over your debt:income ratio. that covers you there so you don't ahve 2 mortgages.
In the case that you sell quickly, you could ask the buyers to give you X amount of time, which might be easy since a lot of buyers right now are coming from renting and would need the time to close their lease. When negotiating, you can say your house is available in 60 days, which gives you 2 full months to find and close on your new home, for example.
If you start narrowing your search down now, by the time you put your house on the market, you should be fine. It's the other way that is a total pain- you find your dream house and can't sell your current house. But, at least you won't have to live in a tiny apartment with all of your pets and baby! GL!
On the timing issue, I've got nothing. I bought the house I was renting.
As for the newbie buyer advice - It's not a dream house until it passes inspection.
When I bought this house the sellers asked to rent back for 3-4 months. They gave me a check to cover my payment every month. I think they requested the rent back in their counteroffer. You could ask to do the same. They can always say no & you can find a house to rent for 6 months or so. On the otherhand when DH sold his condo the buyers wanted him out ASAP. He agreed to get the sale. He moved in with his parents for a few months until our wedding. Some friends of ours moved in with their parents for a few months-with a 2 y/o and a newborn-yikes! I for one would want to look for a house/apartment.
As far as selling, I'd just get the house as clean & neutral as you can. Watch lots of HGTV for tips!
I agree with PP, having the option to rent back from the buyers is a good plan. Also, make sure you have your financing for the new place lined up and start a list with your REA of houses you'd like to buy so you have some you're ready to move on when yours sells. If you can negotiate your closing date right, you should have time to get an offer accepted on your next place and move out without too much overlap.
If you had to move to an apartment temporarily, do you have a family member or friend who could maybe take in your pets temporarily? (since it can be hard to find an apartment that takes multiple pets).
The Fluffy Cat says... "Boxes are the best toys ever invented!"