My home has been on the market for 5 days. Yesterday I had my second showing and this morning my broker called to say the buyer is submitting a cash offer 15k under list, which I’m fine with (he priced it a bit high and their offer is absolutely fair and on par with what I expected). It seems to be a young family whose parents are financing (I only know this because they were 10 minutes early for the showing and were outside my garage as I left).
The big ask is closing 9/30. That isn’t necessarily an issue, except that I’m closing on my new home 9/30, and was in the process of underwriting via my lender with an investor that allowed a recast. That won’t be necessary now.
Does anyone have experience with this sort of thing? I hadn’t anticipated closing my current home before moving into the new home, though it’s definitely preferable. I just hadn’t set myself up for that, or I’d not have initiated the new home purchase with 5% down. I think the down pay and what not are all fluid until closing, yeah?
Are there any pitfalls with this? The last thing I want to do is sell my home and have something weird happen and lose the new home, which would effectively leave my dogs and I homeless until I figured things out.
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