Selling your house and buying another in a new state...

[Fedorgasm]

Seems like it would be a huge pain in the ass.

What I hear other people do is they make an offer on the house they want to buy, but they make that offer contingent upon them being able to sell their own house, since that's where they'll get the money to put down on the new place.

I've never done this but it seems like it could cause a host of problems.

1. If selling your existing house takes longer than expected, then the people selling the new house you wanted might back out because they're sick of waiting for you. They'll just sell to someone else.

2. The escrow closing dates most likely won't occur at the perfect time, so you could actually end up homeless for weeks or months. (Your old place sold but your new place hasn't finished escrow yet)

3. In order to fix the above problem, you move everything into storage, then stay at a hotel for a bit. But then you have to move all your shit out of storage when your house is ready. So you effectively go through the hassle of moving twice.

 

[blaseblase]

You could just avoid all this by selling first

 

[Fedorgasm]

You could just avoid all this by selling first

Not really, because then you still have to deal with number 2 and 3, finding a temporary place to live and then moving all your shit twice.

 

[Blayt7hh]

Not really, because then you still have to deal with number 2 and 3, finding a temporary place to live and then moving all your shit twice.

There’s moving companies that will store your stuff until you close. It is a pain in the ass, but it’s life

 

[TheTickG]

Not really, because then you still have to deal with number 2 and 3, finding a temporary place to live and then moving all your shit twice.

My coworker did this last year. The moving company part is the only thing I'm familiar with though. Depending on the type of move, they schedule the delivery date weeks or months later, which avoids the moving twice problem.

 

[liner]

Timing is everything. Unless its perfect you have to come to terms that you will move twice. I've done this two times to two different states

 

[jeff7b9]

None of those things are actual problems.

All easily addressed in the contract.

"Find a new buyer and sell to them"
Avg transaction is close to 60 days.
It's not like selling a candy bar.

 

[Jack Reacheround]

Seems like it would be a huge pain in the ass.

What I hear other people do is they make an offer on the house they want to buy, but they make that offer contingent upon them being able to sell their own house, since that's where they'll get the money to put down on the new place.

I've never done this but it seems like it could cause a host of problems.

1. If selling your existing house takes longer than expected, then the people selling the new house you wanted might back out because they're sick of waiting for you. They'll just sell to someone else.

2. The escrow closing dates most likely won't occur at the perfect time, so you could actually end up homeless for weeks or months. (Your old place sold but your new place hasn't finished escrow yet)

3. In order to fix the above problem, you move everything into storage, then stay at a hotel for a bit. But then you have to move all your shit out of storage when your house is ready. So you effectively go through the hassle of moving twice.

You can put a tent back agreement in the sale of your house, so that you actually rent it from the new owners for X number of weeks or months while you move to your new house, or while you close on your new house.

That rent back can be for $0. I’ve done it before. We got ur old house rent free for a month while we closed on our new one. Then, you only have to move once.

 

[billiam]

Easiest way is to buy first and then sell once you've moved and refinance after you sell if necessary.

 

[Uber_Noober]

I did this a month ago, it was stressful. You’re right, trying to time everything just right is not easy. Miraculously we actually pulled it off without having to put our belongings in storage or rent for a while.

 

[GSP_37]

There’s moving companies that will store your stuff until you close. It is a pain in the ass, but it’s life

Could have swore recently a moving company's TV commercial said they also have some sort of second hand store. I saw local news reports of people hiring a shady moving company and they absolutely couldn't get their stuff back and it was kept in some storage space. You don't want to be using a moving company that will sell your shit.

I also saw news story recently about some airline baggage store where they sell unclaimed baggage. What kind of scam is that? Surely people's names and addresses are on the tags. Separate you from your baggage, then sell your shit. That should be illegal.

 

[boingyman]

I did this back in 2017. Not only that, but my home went pending real fast and I did a rent back for like 2 weeks for free (since it was a bidding war). We rented back because we wanted to renovate before moving in. Worked out perfectly.

 

[Uber_Noober]

I did this back in 2017. Not only that, but my home went pending real fast and I did a rent back for like 2 weeks for free (since it was a bidding war). We rented back because we wanted to renovate before moving in. Worked out perfectly.

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