Moving from one house to another (apartment, movers, mortgage) - New Jersey (NJ) - City-Data Forum

rajthebam · 09-24-2008, 12:06 PM

I am wondering - If someone is living in smaller house and wants to purchase bigger home - how do they work out the logistics of closing on old one and moving into new one by closing on same day?

what do you do? get storage company to store your stuff if both closings are not the same day? because its not always you will be able to arrange both closings the same day, right?

what if one of the closings don't go thru? how do mortgage companies look at you?

tahiti · 09-24-2008, 12:16 PM

I've done it - sold and bought on the same day - VERY stressful. We basically loaded the truck up (movers) day of closing, had they wait until we purchased the new house, and had them drive there once we had the keys. During the hours between closings, we were "homeless" - stayed at our neighbors.

If you can't swing both on the same day, you can "rent" back you old home from the new owners, if they are receptive.

Sergio M · 09-24-2008, 12:19 PM

Hi Raj,

That's why you need a good agent. You need to make sure that the deals are solid and that everything is moving along on both transactions. If there is a glitch it needs to be brought up and resolved or you cannot have either closing. Sometimes they are tough deals, and you need to be thourough.

veuvegirl · 09-24-2008, 12:33 PM

We bought and sold on the same day. It was stressful, but worth it. We were not present during the closing of our house, or realtor was there to take care of it for us. We had that in the morning, and our new house in the afternoon. Only a few little snafus, but worked out perfectly!

tallguylehigh · 09-24-2008, 01:18 PM

In this market I would think it is VERY tough to sell and buy in such a small timeframe. What you could do is rely on contingencies (when putting in an offer and when accepting an offer on your house) so that they can accomodate doing everything in a day. Although let it be said contingincies like that are a serious turn off to the point where you may lose a house or a seller.

I will tell you what we did. We couldnt time it right so we were homeless and shacked up with a friend for a month. We had to put everything in storage. It was a little stressful but it wasn't too bad at all.

brook2ga · 09-24-2008, 02:29 PM

It depends on how far away the new home is. If it's a local move, you can work it out. Do you have to close on the same day? Yes, a good agent can work it out for you.

teachbeach · 09-24-2008, 03:41 PM

Closings can be arranged for same day, and moves can be done (depends on how much stuff you have). You can also arrange for closing to be one day on existing, ask moving company for extra night storage (if it's local they'll generally charge you but it may be worth it.) If you are moving yourself, you just keep u-haul or whatever overnight and close and unload the next day at new home.

Good realtor, good lawyer, good lender/mortgage company and it all should work.

Diane Giam · 09-24-2008, 08:17 PM

I've had 4 houses altogether. The first house was new and I moved from an Apartment. On the Second house , which was on LI, I closed in the same day. In LI you have 10 days to Vacate, but I moved the next morning, as did my buyers, also from LI. My sellers on my second house were not present because of a transfer to Dallas.
On my 3rd house, I closed in LI, but closing in NJ held up by their Lawyer, so did not close until 3 days later. I stayed in the house but allowed my buyers to bring some things in, because actually it was their house , and not mine anymore. It was ok with their buyers as they were not ready to move in.
On my 4th cosing I had to close on my house here in TN. as my buyers had a Mortgage Commiment deadline in Florida. So I closed in TN first, and did not close until 2 weeks later in NJ. During that time we decided to leave after my lawyer said get out, get the house empty, it will push your buyers into closing. Their Lawyer, and mine felt the same way. Well it worked, the day we were moving out the Survey man showed up, and then they pushed for a closing. They did not like the house to be empty, and that is exactly what we did. We even left the pool filter going, but my realtor was checking the house Daily. She was the best!

Diane G

JamesBoyer · 09-24-2008, 08:53 PM

almost all people close on their old house and new house on the same day. It is not that difficult, it can get a little stressful.

I have closed and moved 5 times now and every time except for 1 the closings were the same day. Old house totally packed up the day before closing, everything into moving trucks, waiting to get keys for the new place.

So with most everyone attempting to do this on the same day, imagine what happens when someone screws things up! I have been involved with closings where something happened in the chain of closings, and all the sudden 5 houses are not closing that day.

Roselvr · 09-25-2008, 04:23 AM

Quote:

Originally Posted by JamesBoyer

almost all people close on their old house and new house on the same day. It is not that difficult, it can get a little stressful.

Not difficult? A little stressful? LMAO

We closed on 2 in one day 4 month ago, it was hell. Everything has to do with whether your buyers don't play games, the mover has the date(s) open, title companies have everything they need, because something always pops up last minute. Everything also has to be smooth with the house you are buying. Many sellers don't want to vacate until they know the buyer closed on their house. I'm reading lots of stories about deals falling through.

We closed on a Tuesday after Memorial weekend. Late Friday, after business close we got a call that our buyer changed their mind yet again on one of the repairs. I couldn't call the movers off if I needed to.

Movers arrived Tuesday at 7:30am, we needed 2 trucks, they brought one. The problem was we had stuff in storage as well, they were going to do it all in one day but we canceled that because there would be no time nor adults to meet them there. We had a large Uhaul truck, my SUV, hubby's pick up, son's car plus his work van and a motorcycle to move.

Buyer walked the house around 10:30am, we weren't out yet. Hubby went to closing at 11:30, movers were still there. Power got shut off after buyer walked the house, buyer never called to have it turned on, so they were ticked at us as they thought we'd leave it on the rest of the week.

Movers finished when closing was midway. They took our stuff to store over night. We left closing 1 to drive to the walk through for the new house, then brought the coolers of food in & went to closing. After closing (5pm) we unloaded the food then went to the hotel. Must have gotten there about 6:30 we were wiped.

Mover came early the next morning as did comcast and everyone else needed. We were charged storage for the mover, it was either that or time and a half to unload.

Things to think about... do you have kids? Kids in school? What are you doing with them during this? My daughter was signed out of school and moping around while the movers were there. She needed food (dry stuff was boxed, tried not to have much cold stuff) so I had to drive her to WaWa & BK

With most walk throughs you are supposed to be out by midnight the night before, so that's a hotel stay with storage from the mover.

I forgot to add that this is all assuming you have a closing date. I had an idea of when it would be but didn't get an actual date until 1 week before closing. How do you reserve a moving date in 1 week? I was actually off by 2 days, thankfully our mover could fit us in.