 Joint mortgage? |
hi
there is not enough equity in our home for my ex to give me the sum of money he promised he would.
As he promised me a sum of money, i had put in an offer for a new house, with me ... |
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| I'm in the home market and do not have 20k to place down on a home, nor do I make 150k a year. Would a interest only loan for 5yrs be a bad idea? At that point I could re fi after 5 yrs for a 30 ... |
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 Should I pay it off? |
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 Submitted a 60 day notice and 8 days later told them that I did not want to move out.? |
| I gave them the 60 day notice on the 10th and called them back on the 19th and told them that I didn't want to move b/c I accepted a permanent position at my current job. They said that they ... |
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 Do you think it's a bit unfair that real estate agencies, buy bargain properties? |
... before others have had a chance to even see them. Wouldn't it be better if they went to needy families, or something? Especially when there is so much high cost housing and rent now.
... |
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 Need help with letter to landlord to get waive monthly lease due to business is extreamly slow.? |
Additional Details
I have a general retail store. We sell almost everything except for food. I don't know why our sale redeced almost 50 % for two months. It is getting worse and ... |
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Sweetie924 | Can you put a conditional offer that is dependent on the sell of your current home?? |
We currently own our own home and we have decided to sell it after we found a different home in a better school district and twice the size. Is it possible to put an offer on the home we want that is conditional on selling our home in a given amount of time? We have 2 interested parties so far, and our home isn't officially on the market till Sunday. |
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Marysue
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You can, but there are a few things to be aware of.
If homes in your market aren’t moving quickly, this may get you an automatic rejection from the seller because they don’t want to turn down other offers while waiting on you.
There is usually a time constraint, say 60 or 90 days. If you home isn’t sold within the agree-to timeframe, the offer to purchase is null.
That you can’t prove you’re making an active attempt to sell your home yet will probably hurt you. Usually when presenting this offer to their client, they want to be able to show them an active listing.
Aside from showing that you’re making actual effort to sell, this lets the listing agent see how realistic you’re asking price is. They need to be able to tell their clients if you’ve priced your home competitively, to sell quickly, or if you’re priced high and not likely to sell fast. That’s a huge consideration in accepting an offer with such a contingency.
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Lex
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You can - it's actually pretty common - and it's also common for the seller to say that they'd like to keep showing until you remove conditions so that if another offer is made, they're able to accept it. |
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miss'n my mom
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yes you can it is called a contingency ... basically the sale is being held until you sell your house but they can cap the time limit on this so they aren't sitting on a house not being sold too. |
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9 daughters
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This is very, very common. It puts your offer is a slightly weaker position but people do it all the time and for obvious reasons.
The seller will invariably accept your offer (assuming the other terms are OK) but with one condition, they have the right to find another buyer who will buy it without that contingency. If that happens you'll then be given the choice of backing out (without penalty) and letting the other buyer get the house or dropping your condition to sell your home first. |
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acermill
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You can certainly do so. It's done regularly. Bear in mind, however, that a seller acceptance of your offer won't guarantee that you will get the home involved. Contingent offers normally allow the seller to continue to market the home to other prospective buyers. If one is found before you remove your contingency, you will be given a short period in which to fully remove your 'sell our house' contingency. If you do not or cannot remove your contingency in that time frame, your offer will be considered null and void. |
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ibu guru
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The three most common conditions in an offer to purchase are "subject to obtaining a mortgage of at least $X at not more than Y% interest by date," "subject to A, B & C inspection reports acceptable to buyer by date," and "subject to signing contract of sale on existing home by date." If you have a contract and are going to closing, you can usually arrange simultaneous closings on both properties, or arrange "bridge" financing with your bank for a short-term gap between closings. |
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Heather
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You can definitely do that, but the sellers of the house you like may very likely not accept that. |
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Ed Atun
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Yes, you can do this. Especially since you are confident that your house will sell quickly. |
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Captain Tenneal
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You can try. No guarantee that the seller will accept that condition but the market is slow and maybe they will. |
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Weimaraner Mom
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Yes you can, you can stipulate in the offer that this offer is contingent upon your home selling first. If the seller wants to accept the contract based upon that contingency then they will, if they don't want to risk you not selling your home and run the risk of you backing out of the deal then they can decline and go with another offer.
This practice is very common. |
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