My partner and I own a 4 bedroom home in a nice suburb. I happen to love this home despite that fact that it could use some updates. A few months ago I my job contract ended and I took a job offer in another state. Despite me not wanting to move the money was great and it’s a great opportunity. So I accepted the position with a start date of next month.
We came up with a plan together. First, I would move to the new location and rent an apartment for 6 months to get a feel for the area and not delay my start while our home was on the market. Sometime in April/May we’d put the house up and hope it sells by June/July. That way our son would have time to finish school here, too. Then since my lease would be ending we would look for a new house, having had a few months to get acquainted with the new area. I liked this plan and felt it was pretty solid.
We invited our realtor, who is also a family “friend”, over to discuss our plans. She ended up convincing us to privately list the house while we prepared to move me to the new state. It had immediate interest on the private network and the first person that looked at my house wants to buy it for our asking price. Evidently they know the furnace is old and so is the water heater and that the roof might need work in 5 - 10 years. But they want the house anyway.
What should be a no-brained has me completely stumped now. I feel it’s too soon to buy a house in the new state because I haven’t even worked my new job one day yet. I feel like I should get established there before signing into another mortgage. My wife insists that she doesn’t want to go back to renting and it’s not fair to our child to keep changing schools. I get that but I think it’s a poor choice financially. The buyers want to close in early March but I’m told they can be flexible. I’m also told that they wrote us an offer letter that we aren’t allowed to see because we signed an agreement that said no offer letters would be considered.
On top of all that our realtor isn’t convinced our house will appraise for the 500k we are asking and wants the buyers to sign an appraisal addendum for them to pay up to 10k over the appraised amount. I want the addendum to say they’ll pay the 500k.
This is all happening so fast. If it were anything other than a house I’d scoff and the first offer and wait to see what else comes in. Our real estate agent is pushing us to accept this but of course that means the she would get a lot of money with almost no work involved. Because of that I don’t quite trust her to give us advice that’s in our best interests and not hers. Still, we do have to sell this house eventually.
What should we do?
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source https://www.reddit.com/r/RealEstate/comments/10hqkb4/in_need_of_some_unbiased_real_estate_advice/
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