We are scared that the new one will get sold to someone else before our house sells. Is there anything we can do to keep that house from being sold?My husband and i want to buy a new house but cant until our old one sells.?
If you are religious, you can pray....If the house if meant for you, it will all work out. If not, I believe that something better will come around.My husband and i want to buy a new house but cant until our old one sells.?
Talk to your lender about getting what's called a ';bridge loan';. Some lenders call them ';home to home loans'; but your mortgage lender should be familiar. If your credit is good and you qualify, you shouldn't lose your dream home. Good luck!
Maybe pulling out some equity of the old house to put a down payment on the new one. Is your credit good to get a 100% loan for the new house? Or get a 2nd mortgage to pay for the closing costs.
Put a bid in on the new house and, if you win the house, see if you can't get it into the contract that you don't close until your house sells or, as an alternative, specify a specific closing date that would be sometime up until before your mortgage commitment expires. How long has your house been on the market? You don't give a lot of info; could you afford to carry both places for a month or two until your house sells? You have wiggle room as the bidding process, inspection, etc. all take time before you have to commit.
You could go into contract to buy the house contingent upon your house being sold. My parents are doing this right now. There house was on the market and someone made an offer and they accepted. The contract is contingent on the buyer's of the house to sell their house first. Some people may not want to enter into a contract with this provision but it is possible. It may take longer and be more aggravating, but yes, it can be done.
Put a bid on the house one the grounds that you will sell your old one. If it is accepted then put a modest price on your house so it will sell quickly, if you underprice your house then you might get multiple offers, thus a bidding war, if you overprice your house then everyone will not look at it, even if you do a price reduction later on.
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