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When is a good time to move when selling the house?

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  • When is a good time to move when selling the house?

    Hey all,

    We've decided that we are separating. We'd like to just list the house for sale in a week or two, and split everything 50/50.

    We both want to move into separate apartments. Would we need to wait until we've received an offer we're happy with for the house.. and then try to apartment hunt for the few weeks or months before new owners take possession? I'd like to start looking for places and filling out applications now, but I'm wondering if potential landlords would not want to rent since I'm currently required to keep paying my mortgage till it sells

    Thanks

  • #2
    Landlords may ask for proof of income and they may do a credit check, but may not ask you if you own property, have any other assets, have a mortgage, etc.

    You are more likely to have a bit of a hard time because you will not be able to give contact info for a previous landlord. Here you put "owned own home."

    During the interview you simply say "I'm selling the house;" for all the landlord knows, there is no mortgage at all.

    When you sell, you are contracting to turn the house over by a certain date. You should be certain that you can vacate by that date. It would be wiser to rent your apartment ahead of time. Generally, tenants are supposed to give two months notice, and a landlord may need the unit vacant for some time in order to do repairs. So a unit may be listed for 2-3 months ahead of the date it can be occupied.

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    • #3
      Now is a good time to list as folks go on summer vacay in July/August. Once you have accepted a firm offer, you will likely have a 60-90 day closing. Apply for apartments then. Just say you've recently sold your home and are looking for a move-in date of xx/xx/2013.

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      • #4
        Don't jump the gun too fast. It took me almost 2 years to sell my house with a loss. The ex moved out first and I stayed in the house until it sold. I had a 2 week closing when it finally sold. There was no way I could pay mortgage and rent at the same time. Hopefully for you, the house will sell quickly. Then when I went to the realtor lawyer to sign the paper work and told him to split the proceeds 50/50 the X told him to put it in trust.........that was 3 years ago and it is still there >.<

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        • #5
          Indeed, my ex refused to negotiate for the release of the funds from the proceeds of the house as a "tactic" to bleed me dry since without the money I would be unable to afford a car or a place to live for so long as I continue to pay her child support and spousal support. And if I didn't continue to pay her every cent of my salary I wouldn't stand a chance when we got in front of a judge.

          Sadly it worked and I ended up signing most of the house proceeds over to her even though she wasn't entitled to it. The rest went to my lawyer for legal fees. I lasted almost a year before being forced to cave...

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          • #6
            As a part-time landlord I generally have 3 criteria:

            1) Good gut feel for the prospective tenant
            2) Solid employment (I verify)
            3) Good credit rating (I verify)

            I generally try and get a sense of why they are moving, but really none of that is easily verifiable (i.e. the contact could be a friend, a former landlord might give a glowing rating (to get rid of the tenant), etc).... so I rely on point 1) above to help me out. knock wood... so far so good.

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