Jami Posted April 18, 2009 Share Posted April 18, 2009 We're considering buying a house this summer...in Austin. Dh's company is being relocated from DFW to Austin and we're tired of renting. If we wait until August 15th to close on a house, it will be 3 years since we last owned a home and we'll be eligible for the tax credit this year (niiiiice). BUT, there's a house I sort of already love (well think I could love it, I have to see it in person to know for sure, but the potential is there). Would a seller be crazy to accept a contract from us this month with an August 15th close date? Is that too long for a house to be in escrow? I don't want to give up my tax credit...but I don't want to lose a house I may love just because it listed 2 months too soon. :D Should I prepare to love another house? Or give up the tax credit? Quote Link to comment Share on other sites More sharing options...
*anj* Posted April 18, 2009 Share Posted April 18, 2009 Ooooh, that's an interesting question. I have no idea, but I'm sure that someone here knows the answer! ;) Quote Link to comment Share on other sites More sharing options...
Jami Posted April 18, 2009 Author Share Posted April 18, 2009 Ooooh, that's an interesting question. I have no idea, but I'm sure that someone here knows the answer! ;) :glare: :lol::lol: Quote Link to comment Share on other sites More sharing options...
Aubrey Posted April 18, 2009 Share Posted April 18, 2009 I know the answer. Don't move. Why, look, someone agrees w/ me------> :iagree: Quote Link to comment Share on other sites More sharing options...
Jami Posted April 18, 2009 Author Share Posted April 18, 2009 I know the answer. Don't move. Why, look, someone agrees w/ me------> :iagree: Well...I've tried that argument. Seems I don't get a vote in this. ;) At least I get my own house out of the deal, but I'm sad to be leaving. *sniff* Quote Link to comment Share on other sites More sharing options...
Aubrey Posted April 18, 2009 Share Posted April 18, 2009 When we sold our house in 07, I was really relieved not to own for a change. Like I hadn't realized I'd been holding my breath, & could finally let go. Now that it's been a couple of yrs...buying is tempting. I mean, it would be, if we had any $, or say, a dream house. Anyway, my question is--what's made you tired of renting? Just curious. I've got dear friends in Austin, & my sis is outside of San Antonio, if you need somebody to say hi to or something. :001_smile: Quote Link to comment Share on other sites More sharing options...
Jami Posted April 18, 2009 Author Share Posted April 18, 2009 When we sold our house in 07, I was really relieved not to own for a change. Like I hadn't realized I'd been holding my breath, & could finally let go. Now that it's been a couple of yrs...buying is tempting. I mean, it would be, if we had any $, or say, a dream house. Anyway, my question is--what's made you tired of renting? Just curious. I've got dear friends in Austin, & my sis is outside of San Antonio, if you need somebody to say hi to or something. :001_smile: Well there are some great things about not owning--like when there's a plumbing issue, I just call the landlord and it's up to him. And he's a good landlord. But it's also hard to feel like making the house my own, to feel invested in improving it for our family (though I did paint a couple of rooms here). And if we weren't moving, I'd be happy to stay in our current house for awhile yet. But hey, if someone else is moving us somewhere, I'd like it to be into a house that's *mine* for a little while. Feel free to stop by then if you ever road trip to see your sis. People keep telling me Austin is a wonderful city. It will be fun to check it out. Quote Link to comment Share on other sites More sharing options...
1bassoon Posted April 18, 2009 Share Posted April 18, 2009 Not a realtor - but, Jami - We're selling right now. If your financials and details looked good, for us, I'd be ok with an Aug. 15 closing date. I think it would depend on the seller, and how early they needed to get rid of/move the house. Again, if it were us, I'd put a clause in there, saying if someone came along with xxxx of a closing date, you had 15 days to move the closing date earlier. Let's say I agree to Aug. 15 - we'd do a contract with a contingency clause. We'd contine to show the home. Next month, someone comes along and says, "I'll buy it and close June 28." You then have 15 days to either close sooner, or lose the house. I'm guessing this is how it would work. I'm not a REA - nor do I play one on TV - but since our house has been on the market for - gasp - 12 months (off and on) - I've gotten quite an education. I'd rather have a buyer in hand, for 4 months down the road, than no buyer at all. I'm just sayin'. You can't lose by asking, right? And if they accept, and the scenario I mentioned does happen - well, you're back where you would have been anyways. Of course, I may not be making sense tonight - but hth. Quote Link to comment Share on other sites More sharing options...
Jami Posted April 18, 2009 Author Share Posted April 18, 2009 That's very helpful, Heather! You're right, it can't hurt to ask. I'm hoping we'll go down and see it next weekend. But offering to have a contingency clause is a good idea. I'll make sure we have a pre-approval letter from a lender too. We told the kids we'd be here for the summer though, so I want the house I want, but when I want it. Just asking for the moon really. :D Oh and I think I would have been open to a long escrow also when we were selling our home. Particularly if we'd gotten a contract within the first few weeks on the market for a fixed closing 3.5 months later. Quote Link to comment Share on other sites More sharing options...
Amy loves Bud Posted April 18, 2009 Share Posted April 18, 2009 Jami, I think the big negative here is that it's Austin. That's just a busy market. I know if I were selling, I'd probably be unwilling to wait so long to close - too many things can happen with the buyer in this economy. But the worst thing they can do is say no. Why not give it a try? ETA: Not a realtor. Not even close. ;) Quote Link to comment Share on other sites More sharing options...
*anj* Posted April 18, 2009 Share Posted April 18, 2009 That's very helpful, Heather! Told ya!!! :lol::lol::lol: Quote Link to comment Share on other sites More sharing options...
Kari C in SC Posted April 18, 2009 Share Posted April 18, 2009 Not a realtor - but, Jami - We're selling right now. If your financials and details looked good, for us, I'd be ok with an Aug. 15 closing date. I think it would depend on the seller, and how early they needed to get rid of/move the house. Again, if it were us, I'd put a clause in there, saying if someone came along with xxxx of a closing date, you had 15 days to move the closing date earlier. Let's say I agree to Aug. 15 - we'd do a contract with a contingency clause. We'd contine to show the home. Next month, someone comes along and says, "I'll buy it and close June 28." You then have 15 days to either close sooner, or lose the house. I'm guessing this is how it would work. I'm not a REA - nor do I play one on TV - but since our house has been on the market for - gasp - 12 months (off and on) - I've gotten quite an education. I'd rather have a buyer in hand, for 4 months down the road, than no buyer at all. I'm just sayin'. You can't lose by asking, right? And if they accept, and the scenario I mentioned does happen - well, you're back where you would have been anyways. Of course, I may not be making sense tonight - but hth. :iagree: As another person with a house up for sale - this is what I would do if an offer came my way like this. I would probably view it as the light at the end of the tunnel! :tongue_smilie: Quote Link to comment Share on other sites More sharing options...
Ellie Posted April 18, 2009 Share Posted April 18, 2009 I don't know, but if you move to Austin, you can come over for a cup of tea. I live in Round Rock.:) Quote Link to comment Share on other sites More sharing options...
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