So this might get some flack here, but here's the short story: I own a home. I bought it in 2020 so I have an insanely good interest rate and don't want to lose that. I don't like where I live (it's not dangerous or anything, it's just boring). I live in south NJ. I want to move to north NJ closer to NYC. I can't afford to buy/own two homes, so my idea would be to rent either a home or apartment up there. Because it's such an expensive area, I feel like it would be a good idea to rent out my current home to help pay for up there. I know this is nonsensical to some people: renting out a home I rent just so I can rent somewhere else myself, but I'm just really unhappy with where I decided to buy and want to live somewhere that makes me happy. This seems like the most financially feasible way to do that. 1) So my first question I guess is...what is the actual order of operations for this? Obviously saving up so I can afford a few months rent up there w...

my wife, toddler and myself recently moved out of our home that we owned for about five years now since the end of COVID. We moved to an area much closer to family and are renting out a home as the area is significantly more expensive than where our house is and it was the quickest path to get into before growing our family further. the idea was originally that we would rent out our current home and then eventually purchase in the new area after building up some money, ultimately having to sell our home for the down payment. Right now it looks like we could make about 500-600 dollars of profit per month against the mortgage (we got around 3.5 percent) which would go towards the new home rental if we rented out our home. But the market has been slow and a part of me wonders if it’s worth the hassle to rent it out, even if we intend to use a property management company, if we ultimately intend to sell it within a few years anyway and purchase in the new area. We do have a fair amount of...

We bought our first house 3 years ago and have a lot of equity so have decided to sell, become debt free, and rent for a year or so to stack up money for our dream property. Timing is an issue and we want to sell soon because the buyers lease is up soon (2 months) and we would need to find an apartment asap. The buyer is one of my personal friends that was looking to buy his first home and our timelines worked perfectly. Providing financing is already approved and price agreed upon, how fast can we actually close on the house? We will be hiring a real estate lawyer to do all the paperwork. I know the inspection and appraisal can take a while. submitted by /u/savageshaft [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1uvj1ge/how_fast_can_i_realistically_sell_my_house_if_i/

We are the sellers of a home to a buyer w FHA funding. The inspection caught some minor things that we fixed. Next thing we know we are closing (pre signing)on Tuesday. They are closing on Wed at 10 am. My agent says that no one has confirmed the house is passed now for funding. The lender and the buyers agent have not said a word. Do we sign tomorrow? submitted by /u/AstronautAshleigh [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1uvhv53/should_we_sign_tomorrow/

Hey all, first time home, er, seller here. And am looking for advice if I'm overreacting about my perceived poor choices of my realtor, or if I'm on point. And if asking for a mutual parting of ways now that the house is on market (as of Friday) is a good idea or not. Feedback from any professionals if agents themselves a bonus. Basically, I've felt like I had to do most of his job for him, and I don't feel confident that he feels confident in his actions. Basically, my complaints are: -house was ready to be put on market June 24. He suggested last minute we wait until after the July 4 weekend, with a brief "coming soon" period, because the 4th of July weekend was super dead for showings and didn't want tonstaxk DOM. He got this from ChatGPT, I found out later. Sounded liie good advice initially, I question it now, especially since it put us out of the June market. -ive had to initiate almost every interaction. Home was supposed to go on as "coming...

I amthe seller. House went under contract June 16th. But we get that the closing is much later and was set to July 27th. Now we are told it will be even later than that because the buyer has to request stuff from the IRS and then they can do some more paperwork. My real estate agent says she is on leave 8/16-9/20. Basically everything is done. The house is ready. It's just so much waiting and paperwork. Our house was being fixed up with no one living there since March 14th. So now we are looking at 1/2 a year or longer till we finally sell it. Is this extremely normal? My first time selling! Then could the seller drop out if the irs papers come back to them with negative info? But they are already pre-approved? ​ submitted by /u/TrickyAd9597 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1uv96e7/average_for_house_to_close/

Recently put our house on the market. We did a lot of comps beforehand and had a pretty good idea of where we should list the house to sell quickly. Two houses on our street have been on the market for a few months, so we didn't want to mess around. The listing agent has been great. Included cleaning and photos; organized staging. House looks great, and the process has been super professional. Her contract states that she takes a 5% commission. 3% goes to the selling agent, and 2% to the buyer's agent. The exception is if she is both the buying and selling agent; in that case, she takes only 3%. Seems fair. So, the house went live this past Friday. We've had 4 showings already and at least one more scheduled for tomorrow. The feedback we've gotten so far is that the house shows well. One of the buying agents turned out to be an old neighbor of mine; he told me he thinks we were priced right and that the house shows well. We'll see if his buyers make an offer. Ok,...

Are there any market conditions you pay attention to closely? Any specific stats or websites you review? I'm under no time constraints but do have a general goal of selling in Tampa, Florida to move closer to my family in Virginia. It's not a great sellers market right now but curious to know what I should be looking for. submitted by /u/SonOfQuora [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1uuozb7/what_type_of_overall_metrics_should_i_look_for/

Hi all! For some background, I come from a very poor family in a HCOL area (Austin TX). Nobody in my family has ever owned a home, and I am the first in my family to go to college and have a professional career. That said, I am 32 years old and make $62k a year. My main life goal is to retire comfortably, and I'd really like to eliminate my monthly rent payment by the time I am 60. I have $56k saved up that was supposed to be for a house down payment, but with high interest rates and the price of single family homes in the area, there's just no way I can (safely) afford a mortgage with my monthly income. However, I did notice that some mobile homes (including the lot) are currently for sale in a nearby suburb, and some lots are cheap enough I could simply buy it outright with cash. My thought process is that even though I would be buying a 20+ year old mobile home, the bulk of the value comes from the lot, and if I have issues with the home I can just demolish it and replace ...