NPR--signing rental lease before house sale is final...

minnasmommy

our closing date is scheduled for 1/15. ?our rental is supposed to start on 12?15. we need to be entirely moved out by the time of closing and when the potential landlord suggested 12/15 we liked the idea of spending christmas in our new place.

has anyone else signed their lease before their house closing? I am just a worry wart and afraid something will go wrong.

please...tell me your stories--esp good stories!

thanks?

Samantha Thomas

I know several people that have done this or bought a new house before closing was final.  We haven't but we are still living in our first home.  Just wanted to say good luck and I hope it all works out.  Yay for selling the house finally!

xbrooklyngrl

I know plenty of people who have done it. When's the inspection and did the buyers have a pre-approval?

I'm happy you are finally THISCLOSE to selling!

joseysbride

As long as the buyer is pre-approved (the bank will give them the money...actually, didn't you say he is paying cash?) and your current home passes inspection, I don't think you have too much to worry about.  Of course, there is a risk that something may happen to make the buyer back out last minute, I'd be more worried about the other two things I listed before that.

LinzDavid

I haven't been around much lately.  Congrats on selling your house!!!!!! 

VivaAmore

I think it's fine especially since it's just a rental. Your out of pocket, should something go wrong, shouldn't be too bad and would hopefully be covered by the deposit that the buyer should have put down already. 

We had a circumstance where we were supposed to close on our townhouse in the AM and our new house in the PM. Due to our a-hole buyer and her dumbass mortgage company we had to bump the settlements by 3 days and spend 3 days in a hotel. On the third day it was late PM and the girls mortgage company STILL hadn't signed off on her loan for our townhouse. Since our movers were arriving at the new house already, the owners let us move in before having everything finalized. It was gutsy on their part (and a disaster for us) but it all worked out in the end.