Quote:
Originally Posted by stuckinparadise
We did something a little similar to your situation. We plan to retire and move in 2013 but bought our lot in June 2012 with the intent to start building a year from that date. We got the 4% discount last February, so we started the build then and closed in April. Our house in Alabama had been on the market for almost 11 months and we were very concerned about having two mortgages. Luckily, we finally sold our house in June. It can be very scary, but in the long run I'm sure things will work out for you. Good luck on getting your house sold. I prayer everything works out.
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Were in the same boat. Found the lot we liked and had to wait till the house sold to get going. It was very stressful. In other words a new Village mortage and a near MTG payment for a rental home for 7 months. Having to move from our home to a rental home then to Florida in 12 months was not fun.
All I know is that there are lots around us that have been turned back in on twice and the original buyers were allowed to relocate to another lot. They may have lost a first choice nice view or are now in a area that has a higher bond, but they are not forced into a design team money down lets go situition.