2006-09-26 04:08:41 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Not so fast...there are a ton of other things that need to be addressed before you rent the moving van.
First you need to write up a purchase contract that is acceptable and agreed upon by the seller. Second you need to secure financing on your new home. This can take several weeks, if not more.
Along the way a number of setbacks can occur. Your house may not come in at value. Your credit may prevent you from securing the financing you can qualify for. The inspection may come up with something negative that will kill the deal completely.
This sounds grim, but the reality of buying a home involves time and setbacks. It's never an easy process. And packing should not be one of your top ten concerns. Sure you need to get your stuff out and on to the next place, but it's nothing you should be thinking about right now.
You should be thinking about your interest rate, your homeowners insurance, your home inspection, and preparing yourself for a mortgage by reviewing your credit and making sure you have seasoned assets in place.
Calling the moving van is pretty simple. The rest not so much. So get to it!
2006-09-26 05:10:19 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Just because you found one and have an appraisal doesn't mean its yours yet. Have they accepted your loan application? Have they accepted your offer to buy it? Have they set a closing date? If the answer is yes to these questions, then yes get busy packing. If not, then I wouldn't until you're approved and have a closing date. Typically the closing date is anywhere from 30-90 days away, which gives you plenty of time. Some owners might request an early closing date, but your realtor should have given you a closing date.
2006-09-26 11:17:42 · answer #2 · answered by Sandi A 4 · 0⤊ 2⤋
Yes the house is yours now! When is your close date? It should have been in the contract before your appraisal.
2006-09-26 11:11:23 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Is the seller paying for the closing costs?
This article gives you tips on negotiation:
http://biz.yahoo.com/brn/060909/19463.html
Articles about current market:
http://money.cnn.com/2006/09/25/news/economy/homesales2/index.htm?postversion=2006092513
2006-09-27 05:20:56 · answer #4 · answered by Price is what you pay for value. 3 · 0⤊ 0⤋
geez if it were me--id wait 6 months to buy a house....which is what im doing now...hopefully you got it at a low price....good luck
2006-09-26 11:17:17 · answer #5 · answered by Jack Kerouac 6 · 0⤊ 0⤋