TTM about buying/selling. Long

acesup

H and I are looking to move to a bigger house in the next town over. They have great schools, we love this neighborhood. We were going to wait another year or two, but I've been browsing lately and came across a fee house that are prices lower than we expected to have to spend. Also, our neighbor whose house is comparable to ours just sold for more than we expected to be able to get. So we're going to feel around a bit.

We looked at a house today that ended up needing wayyyy to much work. But there are a fee others still to see. Well, another just went up on the market 3 days ago. I'm in love. Like love love. I know sometimes pics can be deceiving but I'd be shocked if I don't still love when I see it. We made an appt Saturday. My gut says this is the one. It's everything we want and needs pretty minor updates but all things we can live with for a while.

I don't know how to do this. Our current house was new construction and we lived with our parents until it was done. There was no offers or negotiating or contingencies.

I don't want to get my hopes up. This house is the top of our price range, maybe slightly over. It's only been listed 3 days and prices pretty well so I imagine they would laugh off a low ball offer. But we don't want to spend what they're asking. And even then we need to sell our house for a certain amt to make it work. I want to spend no more than 14,000 less than the list price. Should I still go in lower than that?

I know it's hard to answer not knowing the market and prices. Any experience or tips you can offer would be great. Any realtors out there with tips?

I know I'm getting ahead of myself but whether it's this house or another we will have to do this at some point. It's all very overwhelming when you're buying AND selling.

This was a bit /dear diary.
Sorry.

lifeinthedreamhouse

My realtor said we probably wouldn't be approved for a new mortgage until we sell our current home. So looking before we sell will just be meaningless. We plan to sell, rent something short term and then buy our favorite. I don't want to have to settle for anything when I sell my house, just so we have a place to live.

steponalego11

luxannie said:

I would say, no, you probably can't offer much less than asking so soon after it's been put on the market. Especially if you're going to ask for a contingency for you to sell you house first.

Really, though, unless you're in some crazy market, I would sell your house first and then buy. Or at least get your house on the market for a week or so before offering on a new one. Unless you can afford two mortgages for a while...

All of this. I know your market well (am liscened but not practing agent currently) 14k is a big jump with a large contingency to boot - Esp this soon on the market. You never know someone's position and it doesn't hurt to offer but I wouldn't get your hopes up.

acesup

ChickenOnSunday said:

Can you check the property history? Has it gone on and off the market? If so, have they lowered the price?

I did check. It has not been on the market. This owner has been in since 204 and they paid $105,000 MORE than what they're asking now

acesup

Thanks everyone. There are several other properties that are promising. I just hate when I see something that I am like "OMG that's it!!!" And I know chances are it won't happen. Can't hurt. Worst thing that can happen is we offer and they say no. Or they say yes and then we can't sell for what we need to LOL. That's a whole other issue!