I sold my house beginning of oct to a 1st time buyer and the house we are buying the offer has also been accepted but i don't know long the chain is, how long to do you think before i move??
2006-11-13 08:55:05 · 7 answers · asked by druscilla c 1 in Business & Finance ➔ Renting & Real Estate
This is dependant on when the purchase contract says each party must close by. Then there can always be possible delays from any length in the chain which can cause a ripple throughout the chain.
There are many things I coach sellers and buyers for in this arena. There are many things that can be done to help facilitate a smooth transaction for all parties (ie: prequalify new buyer and yourself for financing to be "ready" to go, regardless of delays). Proactive management is the key...and knowing what to look for.
I write a blog on the subject of credit management, mortgages, real estate trends, etc. Check it out for more information that may be helpful.
2006-11-13 09:02:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you are buying through agents and not privately, your agent should have all the chain details and will be able to let you know the length of it above you. Depending on how long it is and indeed whether the chain is complete will depend on when you move. Hassling your solicitor is also a good idea as some can be very slow and hold up sales.
2006-11-16 06:29:39 · answer #2 · answered by akmg 2 · 0⤊ 0⤋
Look at both of the sales agreements.
The one you sold will have a possession date that is the date you move out. The one you bought will also have a possession date that is the date you move in.
If you are not moving into your new house around the same date as you are moving out of the old one then talk to your Realtor and see if they can get the dates changed.
If they can't be change and you have several days or weeks until you get the new house you will have to store you belongings and stay with friends or family.
2006-11-13 17:01:00 · answer #3 · answered by Wiseoneornot 1 · 0⤊ 0⤋
The three major factors that determine when you can move in are a) when you want to move, b) when the seller wants to move, and c) how soon the lender is ready.
Lenders can usually be ready in 4 to 6 weeks. I've seen a few that moved a lot faster in a particular circumstance, but 4 to 6 weeks is normal.
Now, the seller... perhaps they already have moved out and it's vacant. It's possible to have a side agreement where you can rent their property and move in prior to closing. If you and they both want to move sooner than the lender can be ready, you can ask the attornies about that.
2006-11-13 17:03:16 · answer #4 · answered by open4one 7 · 0⤊ 0⤋
From experience - at LEAST 3 months depending on whether the chain all goes smoothly. Expect hitches if its a big chain and allow up to 6 months xx
2006-11-13 16:57:48 · answer #5 · answered by starlet108 7 · 0⤊ 0⤋
At least February
2006-11-13 16:57:07 · answer #6 · answered by Elle J Morgan 6 · 0⤊ 0⤋
hey
sorry i dunno
goodluck ne wayz
kel
2006-11-13 16:57:52 · answer #7 · answered by *L-I-V-E* 5 · 0⤊ 0⤋