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Thanks everyone. I am going with #1, but we are asking for a larger earnest money deposit (the two other offers were 5K, this one only 1K) and asking for a similar inspection statement as #2.
Not the same county. Not even the same state -- my place is in New Hampshire, the buyer's property is in MA. But they are technically only a few towns apart.
OK - Stlll... moving the money from one escrow to the other... is just a few keystrokes.
It is a pretty hot area, but my complex is particularly attractive to people as it is literally on the border of Nashua and Hollis. Hollis is a wealthy, desirable agricultural town. Orchards and fields and farmsteads and beautiful homes and a picturesque town center. Being in Nashua, we have the advantages of having natural gas (not common in most of NH) and town water & sewer. We're also close to many grocery stores and other conveniences. So, it's kind of a best-of-both-worlds kind of place.
Our complex has a big pool and tennis courts, lovely landscaping, walking trails and even a river floating dock and kayak/canoe storage. I love the location and I've loved living here, I'm really going to miss it.
Really good points, thank you very much. I think my realtor likes offer #1. The home sale contingency has been making me nervous. He also wants to do both closings on the same day, which seems overly ambitious to me, especially when he would need the cash from one closing to cover the purchase at the other. But I'm probably also overthinking everything too.
I just closed on what was supposed to be a same day closing. You are right, it is difficult to facilitate that. It all looks good on paper but they have to record documents and then funding has to be released from the bank. Mine didn't work out on the same day. That's not saying it can't work out the same day but they have to be super quick and their funds need to be available immediately. It is definitely possible to work out the following day once the first closing is complete. Don't sweat it. If it happens, then fine. If not, just do it the following day. It's no big deal
I just closed on what was supposed to be a same day closing. You are right, it is difficult to facilitate that. It all looks good on paper but they have to record documents and then funding has to be released from the bank. Mine didn't work out on the same day. That's not saying it can't work out the same day but they have to be super quick and their funds need to be available immediately. It is definitely possible to work out the following day once the first closing is complete. Don't sweat it. If it happens, then fine. If not, just do it the following day. It's no big deal
Well, the good news is, I am scheduled to close on my new house this week, so I do not need cash from this sale in order to do so. If everything else works out and funding somehow gets delayed a day or so, it won't affect me really. So I guess I shouldn't worry about it as it is not my problem.
Thanks everyone. I am going with #1, but we are asking for a larger earnest money deposit (the two other offers were 5K, this one only 1K) and asking for a similar inspection statement as #2.
I see no difference between approved financing and cash, unless your place has some unforeseen defect that would not pass inspection.
A bird in the hand is worth 2 in the bush.
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