Selling your home ? Updated Post 23. They bought it!!!

[mommasita]

We finally put our home (4plex) up for sale Sunday)
We have been discussing this for 9 years, but finally pulled the trigger. All 4 have been renovated, and this is a wanted area, we just didn’t think it would go this quickly.
We have signed an offer for over the asking price, with a walk through inspection from the buyer Tuesday, we can stay rent free until August 30th. The buyer is a contractor himself.

We do not have a house yet, lol. My husband was sure 1000% that we would not get asking price, so didn’t think we should do this first.

Has anyone been in this situation?
I’m not afraid of finding a house, I know what we need and what we don’t at this point in our lives.i just find it all going quickly. Worst I guess, we store things and rent ?

 

[barkley]

our former home sold fairly quickly, quick enough we hadn't yet decided where to move to. we ended up doing a rental that we stayed in for 9 months and it was a rental that was chosen not nesc. on our desires but a top priority was storage (we had paid for storage on household goods previously when the house was being built-depending on where you live you might like us need climate control to protect electronics and some types of furniture-it cost WAY too much). one tremendous advantage on packing stuff away for several months? you figure out what you do and do NOT need-we purged allot before we moved but so much more after we hit our final destination.

congrats on the sale!!!

 

[LuvOrlando]

We sold our home 2 years ago and to be honest, it has been nice to take a break from owning and renting instead. Renters insurance is cheaper, we don't pay property taxes, none of the headaches of home ownership - if stuff breaks we call the property managers, lawn care - not our job, snow or rain storm issues - not our job, no unexpected appliance expenses or repair costs. We have overflow items in a clean temp control storage facility and we have a safety deposit box for valuables because we are renters and technically they can access the place. Another perk is if the neighbors get weird we can just go, no entanglements in selling. After owning for close to 30 years I am enjoying the pure freedoms of renting.

 

[citruscurtis]

How long ago was it when you purchased the property you just sold?

 

[tvguy]

Congrats. My home sale experience was with selling our parents homes, and helping our daughter sell her home to move overseas. They sold quickly too. But we never had to coordinate buying or renting replacement housing, it just was just a mad dash to get everything moved out by the closing date.

 

[mommasita]

How long ago was it when you purchased the property you just sold?

By us?
31 years ago

 

[citruscurtis]

Well... selling first is important...we have two incidents in our family where they bought the house first before the current dwelling was sold.... buyers backed out... so daughter owns two houses... and current home is a hard property to sell...there pods are states away

 

[DCLMP]

Congrats. Home sales have slowed down quite a bit the last couple of years. Selling fast is far better then not selling fast enough.

 

[barkley]

we can stay rent free until August 30th

make sure to speak to your homeowner's insurance carrier to set up renter's insurance for the period you're in the home after ownership has changed.

 

[disykat]

We sold our home in less than a week and then lost out on two homes we put offers on and there wasn't much else out there we were willing to consider. It was a hot market at the time. Just when we were ready to start looking for a rental, we heard of a house for sale in a neighborhood we didn't even know existed. While it didn't perfectly fit our wish list, no 4th bedroom, no pantry or powder room, some noise from the freeway, etc., it was a good option with a big yard and lots of trees - a big selling point for us. We were the first people to see it the morning it went on the market and put in an offer immediately that was followed by two other offers before noon, but we got there first and they accepted our offer. It has been such a great house, better than we ever imagined, and we've been here almost 30 years!

Hopefully you'll have luck too. Start thinking about rentals, but don't give up on finding something until you have to!

 

[flyingdumbo127]

Just prayers and always my best wishes dear Mommasita.

 

[mommasita]

Thanks everyone

We sold our home in less than a week and then lost out on two homes we put offers on and there wasn't much else out there we were willing to consider. It was a hot market at the time. Just when we were ready to start looking for a rental, we heard of a house for sale in a neighborhood we didn't even know existed. While it didn't perfectly fit our wish list, no 4th bedroom, no pantry or powder room, some noise from the freeway, etc., it was a good option with a big yard and lots of trees - a big selling point for us. We were the first people to see it the morning it went on the market and put in an offer immediately that was followed by two other offers before noon, but we got there first and they accepted our offer. It has been such a great house, better than we ever imagined, and we've been here almost 30 years!

Hopefully you'll have luck too. Start thinking about rentals, but don't give up on finding something until you have to!

i feel like I remember this
I’m glad you are in a great home

 

[Toolulu22]

We sold our home 2 years ago and to be honest, it has been nice to take a break from owning and renting instead. Renters insurance is cheaper, we don't pay property taxes, none of the headaches of home ownership - if stuff breaks we call the property managers, lawn care - not our job, snow or rain storm issues - not our job, no unexpected appliance expenses or repair costs. We have overflow items in a clean temp control storage facility and we have a safety deposit box for valuables because we are renters and technically they can access the place. Another perk is if the neighbors get weird we can just go, no entanglements in selling. After owning for close to 30 years I am enjoying the pure freedoms of renting.

We are planning on retiring and moving south in about 3 years. We will likely end up in Florida for a few years bc my in-laws (divorced) both live there, about 1 1/2 hours apart. They will be mid-70s at that time and we want to be closer to them- MIL has health issues, FIL is lonely. However, we intend on moving closer to other family in NC eventually. Renting had never even occurred to me. I’m going to look into this option.

 

[Disneylover99]

We listed and sold our house quickly before we bought.
I panicked. My husband was chill.

We had already looked at several houses before we sold ours and couldn’t find the right one.
Luckily, we fell in love with a home about a week after we sold. We bought it and it all worked out.

I’m sure it will work out for you too!
Good luck!

 

[unrequited23]

We expected it would take 6 months to sell our previous home. We got an offer at asking price in one month. We rented a storage unit the next day.

It was a stressful time, we had a 3 yr old, a 10 month old and a dog that would be basically homeless in 30 days. Our contingency plan was to stay with my parents for a couple of weeks between the sale of our old home and finding a new one.

In our area several realtors offer homes for short term rental for buyers in this position. I'm not sure how common this is in other places.

 

[ronandannette]

We listed and sold our house quickly before we bought.
I panicked. My husband was chill.

We had already looked at several houses before we sold ours and couldn’t find the right one.
Luckily, we fell in love with a home about a week after we sold. We bought it and it all worked out.

I’m sure it will work out for you too!
Good luck!

Over the past 30 years we've been married, all of our real estate transactions have been in hot seller's markets. I've never had the nerve to buy before we sold, but we always got really, really lucky in being able to sell with a 60 day closing and buy with a 30 day closing (thank goodness for bridge financing!!). We've always given ourselves that margin of time to move without having to scramble, and the last two places we bought, we also did cosmetic renovations.

@mommasita - when you say 4-plex, did you own and sell all 4 units? Are they tenant occupied? What happens to them? Best wishes for your new direction.

 

[Miffy]

OP, Congrats on the fast sale!

We sold our house--from listing to contract in a week--a little over a year ago. Because we knew we were in a hot sellers' market we purchased our new house before we even put the house we were living in up for sale. We had about a 3-month overlap when we owned both houses.

We had discussed selling our house first, but I was too nervous that it'd take us forever to find a house I liked, so we bought the new house first.

OP, I'm sure it'll all work out for you. Things have a way of falling into place.

 

[mommasita]

Over the past 30 years we've been married, all of our real estate transactions have been in hot seller's markets. I've never had the nerve to buy before we sold, but we always got really, really lucky in being able to sell with a 60 day closing and buy with a 30 day closing (thank goodness for bridge financing!!). We've always given ourselves that margin of time to move without having to scramble, and the last two places we bought, we also did cosmetic renovations.

@mommasita - when you say 4-plex, did you own and sell all 4 units? Are they tenant occupied? What happens to them? Best wishes for your new direction.

It’s all tenant occupied yes. They are all together basically. Two uppers and two lowers.
I will pm you after this great hockey game

The hard part for me is I brought my babies home here, and I sent one home here. In 9 years I didn’t do much do my daughters room, it has been very emotional. But that’s done now.

 

[Darcy03231]

When we sold our home we had to be out in three weeks and we didn't have a new place to go to. We put pretty much everything in storage (POD) and ended up moving into our summer place. About a month after closing we found a new home and were able to close before we had to shut down the summer place (end of October) as it was only three season. We decided if we hadn't found something we would have just gone into a month to month rental.

 

[anrew]

We listed and sold our house quickly before we bought.
I panicked. My husband was chill.

We had already looked at several houses before we sold ours and couldn’t find the right one.
Luckily, we fell in love with a home about a week after we sold. We bought it and it all worked out.

I’m sure it will work out for you too!
Good luck!

That sounds great! Congrats. Selling a home sounds exciting but also incredibly stressful. There’s paperwork, inspections, pricing, and constant uncertainty involved. I recently spent way too much time browsing zillow while helping family look at houses and it quickly became addictive. Real estate markets feel unpredictable everywhere now. Hopefully the process goes smoothly for you and you get a good offer. Big life step for sure.