Skip to main content

Selling and buying by August for new job -- Is it even possible??

Hello, r/realestate!

Long time lurker on this sub and needing some advice. TLDR at the bottom.

My husband received a job offer in Dayton, Ohio (about an hour and a half from where we live in Indiana) last week and they would like him to start full time in person mid-August.

We currently own our home (purchased in 2017) in Indiana. We have a realtor here in Indiana and have the goal of putting our home on the market June 12th after we do some minor repairs and cleaning.

We were first time homebuyers in 2017, so the process of selling and buying at the same time in this market is overwhelming since we know nothing about selling a house. We are not able to afford a downpayment on a new home without the cash from our current one selling.

We were feeling ok initially thinking that we would sell our house quickly in mid-June, find something new in Ohio by the end of June and be moving in by late July/early August. But after reading on this sub that some people are looking for months and months and making dozens of rejected offers, my hope is dwindling.

So far we have... found a realtor to sell our home in Indiana, reached out to a realtor in Ohio, scheduled a meeting to be pre-approval (I am hopeful that part won't be a problem, we have excellent credit and already have a home).

Is this timeframe even possible? Do we not even bother to try in this market and just rent for awhile? The most important thing is that we have a place to live by August when my husband starts his new job.

Any advice on our next steps or things I have missed would be incredibly appreciated!! Thank you!!

TLDR: My husband and I need to sell our home and buy a new one by August. Is it even possible in this market?

submitted by /u/thriftstorewarrior
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/noqtjq/selling_and_buying_by_august_for_new_job_is_it/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...

Co-signing as non-primary resident - effect on size of required downpayment & first time home buyer status?

Contemplating co-signing on a house with my mom and splitting the mortgage payment. I currently have a significantly higher income and much better credit than her. I'm looking at potential home costs and related downpayments but have difficulty using some of the online estimators. From my perspective, this would be somewhat of an investment purchase (I intend to stay in my current location in a different state and contribute to the mortgage), however, for my mom, this would be a primary residence. For purposes of the downpayment size and the type of mortgage arrangement, would it be an investment property or a primary residence? Many thanks for any help. submitted by /u/piercalicious [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km4hvl/cosigning_as_nonprimary_resident_effect_on_size/