How do you move from one house to another?
- Thread starter Chris
- Start date
I’m 2 years away (empty nest) and planning same thingI told the last realtor I spoke with that my dream home is 1200 square feet with a 30' x 60' shop building. When she raised her eyebrows at me and suggested that my dream home would be hard to find I told her that a 40' x 80' shop would be acceptable as well.
Can’t really help except to suggest that you get rid of as much as possible before your move. Replace it from a nice habitat store after the move. When my widower father in law passed, my wife [his only child] was forced to empty his house in Baltimore prior to selling. She donated a large part to goodwill, they picked it all up. We rented a truck and moved his personal stuff, a few family antiques and a new fridge south to NC, donated the fridge to our church. Good luck on your move. Hope you find a good place with good neighbors or 25 acres and no [close] neighbors.
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Airjunky
TJ Enthusiast
We moved from Seattle to Spokane a number of years ago & had some pretty unique criteria. Besides the house itself, I was looking for really easy access to the water, trailhead, etc. We took a couple of trips to look for houses, talk to realtors & various people about the area & the access I was looking for. We found several options that we liked. But then had problems selling the place in Seattle. It ended up taking a few months, more time than I had with the job transfer, my wife's new job, etc. So we ended up renting a place in an area we thought we really liked (north Idaho). After a few months living there, we found a number of problems with the access/amenities I wasn't happy about & began expanding our search for a new home. After a few months we sold the Seattle place & found what we wanted & made the purchase, 2nd move in 6 months, etc. The 2nd move was easy since we had downscaled quite a bit from the old place in Seattle. In the end, we ended up in a place that is FAR better than our original choice as far as the ease of access to the water & trailheads. Both are blocks away & very inexpensive.
I guess the point is that the few months renting the place in the area gave us a chance to see & experience what it was really like. Things like seasonal water levels, trailhead openings, cost of living, etc. that we didn't even think about in the beginning. We've looked at places in the Phoenix area, thinking we might like it there. After a weekend of looking, we wrote it off because we couldn't find places on acreage or neighborhoods spaced out very easily, especially with similar access that we've had in WA. I imagine more time looking would change that but we haven't managed to take that leap yet.
I guess the point is that the few months renting the place in the area gave us a chance to see & experience what it was really like. Things like seasonal water levels, trailhead openings, cost of living, etc. that we didn't even think about in the beginning. We've looked at places in the Phoenix area, thinking we might like it there. After a weekend of looking, we wrote it off because we couldn't find places on acreage or neighborhoods spaced out very easily, especially with similar access that we've had in WA. I imagine more time looking would change that but we haven't managed to take that leap yet.
We are going through this now. We paid off our mortgage Oct. 4th and put in an offer on a place we both liked on Oct 19th. That was accepted the same day. We close on Monday.
Our situation is that we are only moving 19 miles as the crow flies, 25 miles as the Jeeps drive. With this place paid off, we can take our time getting moved and have room to work on projects started and not finished because of my job(170 nights in hotels, so far).
Some of the furniture will stay in this house for ‘staging purposes’ until it’s sold, according to SWMBO. She gets these strange ideas from HGTVDIY Network. She’d watch 24/7 if she could. I don't even know how to turn the tv on.
I’m not getting that 30 x 60 shop, but I am getting a heated unattached 4 car garage with an attic.
Our situation is that we are only moving 19 miles as the crow flies, 25 miles as the Jeeps drive. With this place paid off, we can take our time getting moved and have room to work on projects started and not finished because of my job(170 nights in hotels, so far).
Some of the furniture will stay in this house for ‘staging purposes’ until it’s sold, according to SWMBO. She gets these strange ideas from HGTVDIY Network. She’d watch 24/7 if she could. I don't even know how to turn the tv on.
I’m not getting that 30 x 60 shop, but I am getting a heated unattached 4 car garage with an attic.
just some advice from an old guy with experience:
1. never trust the buyer or commit yourself financially until you have the money in the bank. they can back out at the signing and have no responsibility past the deposit.
2. the agent is making money off the buyer, so I know you hired them, but they ain't really your friend.
3. sell it, rent something and go from there when the money is in the bank. do not commit to anything financially until all finances are in your name.
4. all of this is mute if you are independently wealthy.
jmo,
Rik
edit to add: put into contract at signing that you have XX # of days to vacate. and it can be from 0 to whatever.
just saying that because the last one I sold, my broker (that I hired) put in there that I had to be out by 6:00pm that day or pay $150/day rent.
There is no way I could have planned on this because up until signing, I did not even know if the buyer could get a loan.
3 nights cost me 450.00
1. never trust the buyer or commit yourself financially until you have the money in the bank. they can back out at the signing and have no responsibility past the deposit.
2. the agent is making money off the buyer, so I know you hired them, but they ain't really your friend.
3. sell it, rent something and go from there when the money is in the bank. do not commit to anything financially until all finances are in your name.
4. all of this is mute if you are independently wealthy.
jmo,
Rik
edit to add: put into contract at signing that you have XX # of days to vacate. and it can be from 0 to whatever.
just saying that because the last one I sold, my broker (that I hired) put in there that I had to be out by 6:00pm that day or pay $150/day rent.
There is no way I could have planned on this because up until signing, I did not even know if the buyer could get a loan.
3 nights cost me 450.00
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Chris, here is another idea from someone who has been there and done that.
If you find something you really like, you can try adding a contingency to your offer to buy. as in offer is contingent on your sale closing.
really doubt it works in a hot, hot market, but never hurts to try.
also houses are a lot like TJ's or a bus. there is always another one coming up.
If you find something you really like, you can try adding a contingency to your offer to buy. as in offer is contingent on your sale closing.
really doubt it works in a hot, hot market, but never hurts to try.
also houses are a lot like TJ's or a bus. there is always another one coming up.
A contingency just doesn't work in today's world. In Tennessee houses sell fast and for more money than you ask. I've rushed into two of the five houses that I bought and regretted it. Rent after selling and be ready to pouch on your dream home. I have rented my old home for two months before. When the sign goes up in your yard have all your ducks in a row.
Given how mind-bendingly stressful home selling and home buying can be, it can be very hard to remember that you're not the first person to ask your question. In fact, it's extremely common.
Pretty much this. We just went through it a little less than a year ago.
As it was explained to me by my realtor (who is frigging awesome), contingencies are frequently used in real estate.
If the seller is smart, they'll include a "kick-out clause" to go with your contingent offer. Basically, it allows the seller to keep marketing the home while you try to sell yours. If the seller gets another offer, you have a certain amount of time (usually 72 hours) to remove your contingency. Otherwise, the sellers can terminate your contract and go with the new buyers.
If this hasn't been explained to you by your current real estate agent, you need a new real estate agent.
Unrelated to contracts but related to moving: if you're using a moving company, use a company that will send an agent out to your home and give you an estimate in person! We used a company that gave us an over-the-phone estimate and it was an absolute nightmare.
Long story short: when the bill came due, it totaled 208% more than the high end of our original estimate. The moving company tried claiming that we misrepresented what we had.
An oversight commission run by the state of Illinois ended up getting involved. The moving company finally took our complaint seriously. They reached out, we settled on an agreement, they mailed me a check, and arbitration was avoided.
Pretty much this. We just went through it a little less than a year ago.
As it was explained to me by my realtor (who is frigging awesome), contingencies are frequently used in real estate.
If the seller is smart, they'll include a "kick-out clause" to go with your contingent offer. Basically, it allows the seller to keep marketing the home while you try to sell yours. If the seller gets another offer, you have a certain amount of time (usually 72 hours) to remove your contingency. Otherwise, the sellers can terminate your contract and go with the new buyers.
If this hasn't been explained to you by your current real estate agent, you need a new real estate agent.
Unrelated to contracts but related to moving: if you're using a moving company, use a company that will send an agent out to your home and give you an estimate in person! We used a company that gave us an over-the-phone estimate and it was an absolute nightmare.
Long story short: when the bill came due, it totaled 208% more than the high end of our original estimate. The moving company tried claiming that we misrepresented what we had.
An oversight commission run by the state of Illinois ended up getting involved. The moving company finally took our complaint seriously. They reached out, we settled on an agreement, they mailed me a check, and arbitration was avoided.
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I just went through this. I bought a house (about a mile away from old house) in SoCal from some old folks that wanted to move the NM. Their plan was to sell this house, then go pay cash for the house in NM, so I agreed to rent it back them for however long it took...and I was hoping it would taking longer than it did, because I didn't feel like doing all the needed work after they moved out in the middle of summer when it was 100+ outside.
You gotta find the right buyer for that though, that doesn't have a contingent deal going to out of their old house by a certain date.
You might consider just buying your new place in AZ before or while your house is listed using a conventional home loan, then simply refi it or buy down the loan once your old place sells. After moving only a mile, this is the way I would do it simply because I have a lot of crap and the stress of the time constraints during the move took a few years off my life.
I keep telling the wife the next time we move, I'm just gonna insure the shit out of everything and burn the old house down, then buy new stuff at the new house. lol
You gotta find the right buyer for that though, that doesn't have a contingent deal going to out of their old house by a certain date.
You might consider just buying your new place in AZ before or while your house is listed using a conventional home loan, then simply refi it or buy down the loan once your old place sells. After moving only a mile, this is the way I would do it simply because I have a lot of crap and the stress of the time constraints during the move took a few years off my life.
I keep telling the wife the next time we move, I'm just gonna insure the shit out of everything and burn the old house down, then buy new stuff at the new house. lol
An old shooting buddy of mine decided he and his wife were moving to Florida so they put their golf course house up for sale and bought a place in Florida, don’t know where, within a couple of months his wife decided she hated it and they came back to NC. Luckily the golf course house never sold and they were able to sell their new house. Look long and hard and maybe rent a place before you jump.
OP
This isn't a bad idea, but I'm not sure they'd give me a home loan without a sizable amount down, and I don't have that money to put down, as it's tied up in my current property. That's the dilemma.
Day 4 and after moving several boxes of books, I am beginning to see the wisdom of e-readers.
You don't know until you ask. Interest rates might be a bit stupid, but if you run the numbers for 6 months, it'll probably not look as bad as renting...I say 6 months because that is the typical "seasoning" period for things like this, or so I've been told by the banks I've dealt with.
OP
Option #1, selling your home in Oregon and renting in Arizona for awhile will give you the most buying power because "Cash is King." I've been able to negotiate some very good prices by offering all cash, 30 day escrow, i.e. no complications from the seller's perspective. Renting for a few months before you make an offer on anything will allow you to be sure it will be the house you want in the neighborhood you want, and if you are a month-to-month tenant you can rent past close of escrow to give you time to make any improvements before you move in to your new home. Yes, you will have to move from Oregon to Arizona and then move again across town, but you are making a life changing decision when you relocate to a new region so the extra time to maximize your knowledge of the current conditions of the local market will be worth the inconvenience.
Option #2, making an offer contingent on the sale of your existing home, is a common practice but complicates the deal for the seller. You wont have the same bargaining power as with all cash or "cash to new loan." You also run the risk that it will take too long to sell your existing home or that you won't net enough for it, in which case most contracts with that contingency give the seller the right to cancel the contract if the buyer cannot meet a relatively short deadline. Be very careful about the language relating to return of deposits. If you go this route be sure that you get all of your money back and are not penalized if you cannot sell your home in time. The silver lining here is that assuming you get all of your deposit back, you really aren't worse off than had you chosen Option #1 to begin with. The only bad thing that will have occurred is that you lost out on a house you liked and wasted a bit of time and effort.
Here is what I negotiated on a house deal that opened escrow yesterday: Large down, relatively short escrow, seller to carry remaining balance to allow me to sell my current house in the spring/summer when the market is better without the sale of my house being a contingency for the purchase the new house. This will allow the seller to use my down payment to purchase a small retirement home on the other side of the country where he and his wife have been renting. Since Seller has no immediate need for the remaining balance and it would likely sit in a money market fund for a while anyway, at a fairly low yield, he is getting a slightly better return on his capital by lending it to me on a short term note. This also gives me the option of borrowing against the equity in my current home rather than selling it in order to pay off Seller's note on the new home, and then convert my current home into a rental. This arrangement also allows me to take possession of the new house before I have to do anything with my current house so I can remodel the master bath before I move in. Win-Win.
BTW, this will be my new yard and "water feature":
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I don't recall how young your kids are. But now is the time to move. I waited and my son got to engrained in the local school district and friends and family etc. etc. Then it was to late. We had to wait for him to graduate. Take your time. But now is the time to move. Any older and you'll get stuck.
Week number 4 has started. I really can't recommend doing the 'Moving' part the way we are doing it, but my other half is retired and she just keeps plugging along. I had to work in Washington state last week, Quebec this week, and stuck at corporate in South Carolina next week. The other half says she gets more done when I'm gone. That said, the Man Cave is coming along.
