Selling our house

squirrly

We need to sell our house here to facilitate moving to Boston.  Our ideal timeline is July 1 to move, but the homebuyer tax credit runs out the end of April - right before our wedding.

AmoroAgain

You have no idea how long it will take to sell your house.  I wouldn't wait, personally.

JessAndTrav

I voted option 1, but I know little to nothing about homebuying. But that's probably what I would want to do.

iamjoesgurl

Isn't the tax break for buying a house (not selling)?  If that's right, I guess I would only recommend listing your current home now if you plan to also buy a house in Boston immediately.

angned

Are you buying when you go to Boston?
Is looking for/buying something now in Boston not an option?

You never know how long it will take- you could list tomorrow and sell tomorrow, or list tomorrow and sell in July.  I am not sure if there is really a right time either way.  Best of luck to you!

Koopa17

I voted the second option, and if the buyers aren't willing to negotiate enough on the move-in date, resort to renting for a while.

SarahPLiz

List now, start looking in Boston, and hope. I heard that burying some saint statue upside down in your yard works wonders. Even my protestant real estate agent aunt swears by it.

tenofcups4me

Speaking as someone whose house has been on the market since August...I'd list now. It will be a pain in the ass if you sell too early and have to rent for a while, but better that than not selling. (To the poster who commented on the tax credit -- yes, it's for buyers, not sellers, but the thinking is that people are more likely to want to buy NOW and get the tax credit than wait till after it expires.)

mwhitson14

I voted list it now, and also start looking for a place in Boston, because you might get lucky and your house could sell fast!

I'm crossing my fingers for you

TurtlesAllTheWayDown

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_selling-house?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:a0edd5ac-8d03-412e-9cdf-9332c10ae405Post:1cc8c4bc-ac52-439e-a6cb-7935c197efee">Re: Selling our house</a>:
[QUOTE]Isn't the tax break for buying a house (not selling)?  If that's right, I guess I would only recommend listing your current home now if you plan to also buy a house in Boston immediately.
Posted by iamjoesgurl[/QUOTE]

I was under the impression that she thinks it will sell faster if its on the market before the end of the tax credit. Then everyone will be trying to put offers in by the end of April. If they list it after that, most people who are intent on buying this year will have already scooped up a house in order to get the tax credit.

tlv204

I heard somewhere that there was a new tax credit for home buyers even if you're not a first time buyer. Did I make that up?

Sorry, not very relevant.

LesPaul

St Joseph buried in the yard (upside down) is supposed to speed up the sale.  Then you dig up the statue and display it in your new home.  The credit is for buyers - but the sale has to close by April 30.  I would list now and plan on a temporary living arrangement if necessary - no telling when the market will pick up.  My house is on the market, but has only been listed for 2 weeks so we haven't seen any action yet.

squirrly

Darn it, TK ate my reply.

We already have a house in Boston, but it's rented through July 1.  Also, FI's release date from the Army should be then, so we REALLY can't leave here before July 1.  But, I don't have a job there yet, so I can't leave here until I do, as I'll be our only way to pay either mortgage payment at that point.  (FI has stuff in the works, but not guaranteed, and not enough $$ to take care of both mortgages.) 

I really don't want to have to live separately.

squirrly

TLV, it's $8000 for first time home buyers.  There's also $5000 for current home owners who haven't made a purchase in the last 5 years. 

Besides the fact that we have the Boston house already, we don't qualify for either credit.

TurtlesAllTheWayDown

Are there parents you could crash with if, worst case scenario, you had to close your house in May or June? Not ideal, but you'd still be together. And it sounds like you wouldn't have a place to go yo in Boston, either.

tlv204

Gotcha, that sucks. At least I wasn't making it up

squirrly

My parents are too far from the base FI works at, so no.  And, there is NO WAY IN HELL I'd live in their house again.  Besides the fact that my sister moved back home and took over that whole side of the house.  No space for us.  We'd have to get an apt. here.

TurtlesAllTheWayDown

I wouldn't move in with my parents either. And lord knows moving in with the in-laws would be worse.

squirrly

Eh, the ILs are nice, and the issues with moving in with my parents (uber strict, curfew, etc.) wouldn't be an issue with them.  But, the ILs only have one full bathroom in their house, and it's not on the same floor as the bedroom we use when we're there.  Awkward.

ExpatPumpkin

I'm sure you've already thought of this, but can he get short-term housing on base?

I voted put it on the market ASAP.  I'd worry about whether you have to store your stuff or can negotiate a move-out extension when you have an offer

squirrly

Expat, he could, but that would cause two issues - I couldn't get base housing with him until after the marriage certificate comes in.  And, honestly, with his release date established for just about a month after that, they'd paperwork us to death and that wouldn't happen.

Also, his BAH payment would disappear, and that is going toward the Boston mortgage, which is more than the tenant is paying in rent. 

saschaduran

List it immediately.  It takes a good couple of months for things to be settled and for a buyer to move in and it is better to end up moving temporarily early, then to be stuck paying a mortgage months after you have moved to Boston.  Things could move quick, but they could move very very slow.

ExpatPumpkin

Gotcha.  I still vote list ASAP.  As to whether that leads to option A, B, or D will depend on when you find your buyer...

katiewhompus

I would list it immediately. Most loans have a closing period of 60-90 days after the offer is accepted. So assuming you put it on the market tomorrow and received an offer you are still looking at closing in three months. Some of the houses we looked at had been on the market for over 160 days (depends on area of course).

squirrly

I am terrified of having to keep the house super clean with all the wedding stuff around.  TERRIFIED.  And we need to box a ton of stuff up and take it to storage if we're going to list soon.

And we have to fix the carpet from where the puppy destroyed it last year.