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Old 03-04-2017, 06:27 PM
 
Location: North Idaho
32,565 posts, read 47,729,085 times
Reputation: 78078

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Yes, you can approve a sale contingent upon your finding a replacement property.

Most likely you will not find a buyer willing to agree to that, but you can try.

You've received good advice above: get both the homes sold and put the money in the bank. Rent while you search for your new home to purchase. Both of those homes are owner occupied, so a good chance that the money they bring will be tax free. But check with your accountant to make sure. Those rules are a bit complicated.
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Old 03-07-2017, 07:27 AM
 
16,235 posts, read 25,147,660 times
Reputation: 27047
Quote:
Originally Posted by oregonwoodsmoke View Post
Yes, you can approve a sale contingent upon your finding a replacement property.

Most likely you will not find a buyer willing to agree to that, but you can try.

You've received good advice above: get both the homes sold and put the money in the bank. Rent while you search for your new home to purchase. Both of those homes are owner occupied, so a good chance that the money they bring will be tax free. But check with your accountant to make sure. Those rules are a bit complicated.
I agree with others, if buying, buy the home you intend to move to, then sell both FL homes. Too many variables otherwise.

Or rent and build your own homes, or build the extra home for your FIL. Too many complications in my opinion in your trying to sell both homes and close at the same time on a new home, especially given they are states apart.

And, depending on where you move check into buying a modular or mobile home for FIL.
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Old 03-07-2017, 07:39 PM
 
Location: under the beautiful Carolina blue
22,654 posts, read 36,657,128 times
Reputation: 19848
LOL, reason 4,152 why I will never deal with a FSBO again.

So, you want your buyers to sell their house (which they will need a contract for) or break their lease, be out on the street on THEIR end, enroll their kids in school, accept that job, arrange for movers, board their pets and/or whatever-the-hell-else, and whoopsie! be willing to go along with your last minute cancellation?

Sure. I'd be all in for that. Why not?
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