Appraisal is this week...now what do we do??
 

Hi everyone,

The termite and inspection went well, this week will be appraisal, where do we go with 2 cats?? After Feb. 25th.
We've been in TV last wkend and no one wants wants a contract with contingency until we close next month..... Any ideas what we should do?? After our appraisal see if our buyer will allow us to stay in this house and pay a month rent??? Any ideas?? The money is tied up in this house

Thanks, Lynn:cryin2:

A hotel/motel for a month? Get a monthly rate from them - put the cost on a charge card which will delay your needing to pay the bill for another few weeks, perhaps up to a month. Just a thought.......

Bill :)

Not sure I understand your question. You say the appraisal is this week and you think you must vacate the house after the appraisal? When is your closing date? That's when you vacate. Appraisals are usually at least a couple weeks if not longer before the actual closing. What does your real estate agent say?

Appraisal
 

My realtor told me this week....didnt get a call yet but closing is for around 2/25

If you buy new you may qualify for what is called a bridge loan. Once you have an accepted offer on your house and your equity is tied up they give you a loan on your equity and you are able to buy a new home. Can't give you the details but we were in a similar situation and were able to buy our new home and move in just a few days after our other home closed. We worked with the Villages Realty and they set it up through Citizen's Wholesale Mortgage.

Usually this is something covered in the sales contract if you need extra time it should have been addressed as part of the contract, with the $ amount of rent you pay to the new owners. I don't know why you would need to vacate before you close. You own the house until the buyer closes. Think of it this way what happens if you vacate before closing and your buyer doesn't close? then you still have to find a new buyer for your home plus you would have already vacated the house. After closing you can always move into an extended stay hotel or do a couple of months rental in TV while you find and close on your new home

Renting with kitty may be a problem start looking now

Try the nearest rv rental situation. I think there's one on 466 or 466A?

I am sorry this is happening to you.

I never heard of moving until the closing is done. What if the buyer backs out at the last minute? Heck, I have plans to put my furniture in storage until the deal is done. A neighbor of mine moved and the closing fell through. She never moved back in and fortunately, she live with her niece until she finally sold. When the check is in my hand, then I will plan accordingly.

I would rent for a month or two until the sale of your house is completed. I hope your closing goes through.

I am confused, LynDeb. On January 13, you posted that you put a contract on a resale home in The Villages.

I am waiting for appraiser to call and set up appt. this week... Contract says the buyer wants to close on or about 2/25 to close on my house we!re living in

Find out if the buyer for your current is wanting to move in immediately. Perhaps they'd be willing to rent to you in the interim. Ask them now (via the realtor) - don't wait.

Do you have a closing date set yet for your new-to-you TV house?

Bill :)

Thank you good advice

Your contract should also state the date you are to vacate the property which is not necessarily the closing date.
That part should already be in agreement. Read it slowly and carefully. Many agreements give 15-30 days after closing to vacate. The contract controls everything until closing.

I've been a real estate broker for 40 years and most contracts have similar clauses. Good luck to you.

I would start looking for a rental in TV.