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So, we listed our house last Thursday and sold it in 3 days...now what?!? We have been focused on Londonderry, particularly Mill Pond development but they are completely unwilling to negotiate anything, not out of the question but we are looking around in Merrimack and Bedford. Advise? We have never dealt with private water or sewer so it does limit us. Excited to make this move but boy it's happening fast! Schools are our main concern besides being close to mass border.
Last edited by Mamabear33; 06-12-2016 at 09:22 PM..
I just happen to see your post as I was scrolling to another forum. Aren't those questions you should have researched and known the answer to BEFORE selling your house?
So when you find a house that you are interested in make sure that the (if there is septic and private water) you have these taken care of in the inspection. A failed septic can be very costly.
Mill Pond is a new development that has a good deal of homes that are selling. They probably would only consider negotiating if there was a small demand but unfortunately you probably wont be able to get much from there.
Merrimack and Bedford are both nice towns to live in. Both of these town will most likely have a septic as well as well water. You should definitely make sure that you are being diligent with your search as with both of these towns, the inventory tends to move rather fast - Merrimack in particular and specific price ranges in Bedford as well.
Just be prepared to jump on something. Have you pre approval from your lender ready and in hand and have whomever you have working with you constantly sending you anything and everything that comes on in those towns!
It takes about 45 days to close so also acount for that gap!
I just happen to see your post as I was scrolling to another forum. Aren't those questions you should have researched and known the answer to BEFORE selling your house?
Thank you.
Exactly.
Probably not enough information in the original posting.
We have been looking at all these towns for a very long time, found several houses we really liked (which are now gone) but you can't put an offer on anything until you sell your current house. So that is why we sold out house, but we have 2 1/2 months until we close and will move in with my folks in between if need be.
I'd like to offer a small correction: you listed your house and it went under agreement in 3 days. It did NOT sell-that will take place in 2 1/2 months when you close. BEFORE the closing happens, there are usually a few contingencies that need to be met. Inspections, appraisal, financing commitment are the BIGGIES, and there may be more depending on the property you are selling (insurance, flood insurance cert., deed review, title search, etc...)
Not only is the builder/developer unwilling to negotiate anything, but from my experience, you are not able to determine upgrade costs until you are ready to put an offer together (we discussed this on an earlier thread, not sure if you were the OP or not...)
There is NOTHING that says you can't put an offer in on a property until your home sells. My listing in Nashua just went under agreement after 4 days (and a dozen offers) and several of the offers had home sale contingencies. This is done all of the time, and because there is an element of risk for the Seller who accepts the offer, most of the time there isn't much negotiation there either...
Hopefully your agent is well versed in the towns that you are most interested in, and can advise you of areas that may have a history (however recent) of soil or water contamination. Due diligence is your responsibility.
It's great that you have a place to hang your hats after your home closes. This will put you in a good situation for negotiating the best possible terms and conditions
Quote:
Originally Posted by Mamabear33
We have been looking at all these towns for a very long time, found several houses we really liked (which are now gone) but you can't put an offer on anything until you sell your current house. So that is why we sold out house, but we have 2 1/2 months until we close and will move in with my folks in between if need be.
Yes, Valerie you are correct. I should have said we had an accepted offer...I know there's still lots to be done! I know you can put an offer in but most sellers (myself included) wouldn't necessarily pick an offer where you still need to list/sell your house because it could take months etc.
Yes, Valerie you are correct. I should have said we had an accepted offer...I know there's still lots to be done! I know you can put an offer in but most sellers (myself included) wouldn't necessarily pick an offer where you still need to list/sell your house because it could take months etc.
I would usually advise my Seller clients NOT to accept an offer if the home sale contingency was for a non-listed house, but as long as the house is listed and priced competitively--absolutely! And if it's already under agreement all the better (the further along in the transaction, the better). It's managing risk, but in the end, you'll be OK, since you have a place to stay. That way YOU get to be the buyer without a home-sale contingency, which of course is the most attractive to Sellers
I would usually advise my Seller clients NOT to accept an offer if the home sale contingency was for a non-listed house, but as long as the house is listed and priced competitively--absolutely! And if it's already under agreement all the better (the further along in the transaction, the better). It's managing risk, but in the end, you'll be OK, since you have a place to stay. That way YOU get to be the buyer without a home-sale contingency, which of course is the most attractive to Sellers
I find you to be very helpful and informative. My housing needs are fulfilled but I would send friends and family in the housing market your way based on knowledge alone.
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