Bad timing

[89th]

Good luck Horace! When we sold our condo last year I remember the angst on the last day, hoping it would all go as planned. It did, fortunately.

[jon-nyc]

Good luck, buddy.

[Horace]

Thanks 89th and jon. I guess this is happening. The contingency was removed and the buyers will sign their closing papers tomorrow. We'll sign ours maybe a week from tomorrow? Not yet decided. I thought we'd have to leave as soon as we sign. I guess I'll settle that with the title officer, who has been more forthcoming with information than our selling agent has been. We think she has approximately 50 clients too many. Ambition meets time constraints. Her sig on her emails is "and by the way, I'm never too busy for your referrals!". Au contraire.

[Aqua Letifer]

@Horace said in Bad timing:

@Jolly said in Bad timing:

I think it will all work out.

And now, a bright note...You'll be moved just in time for...Wait for it...

https://www.texrenfest.com

I do like the ladies’ attire at those.

Texas Renn Fest is no damn joke. It's Burning Man with a theme. Crazy shit goes on there.

Cover your drinks.

[George K]

@Horace said in Bad timing:

I thought we'd have to leave as soon as we sign.

First of all, congratulations on what seems to be a done deal.

Each time I've sold a property, the contract specifies the time at which the buyer takes possession. That time is not until s/he secures funding, and that's a closing - usually 90 days hence.

Until the funds are delivered, it's your place.

You've got time.

[Horace]

@George-K said in Bad timing:

@Horace said in Bad timing:

I thought we'd have to leave as soon as we sign.

First of all, congratulations on what seems to be a done deal.

Each time I've sold a property, the contract specifies the time at which the buyer takes possession. That time is not until s/he secures funding, and that's a closing - usually 90 days hence.

Until the funds are delivered, it's your place.

You've got time.

Good to know, thanks George.

[Horace]

I'm very pleased with what we were able to get out of this place. Almost the entire COVID era housing bubble bump. Though when you look at the zillow estimate chart, it's just linear if you remove short term spikes during COVID. Same can't be said for where we're buying...

The blue circle is where we listed, and the end of the line is where we sold.

[Jolly]

@Aqua-Letifer said in Bad timing:

@Horace said in Bad timing:

@Jolly said in Bad timing:

I think it will all work out.

And now, a bright note...You'll be moved just in time for...Wait for it...

https://www.texrenfest.com

I do like the ladies’ attire at those.

Texas Renn Fest is no damn joke. It's Burning Man with a theme. Crazy shit goes on there.

Cover your drinks.

It's not quite that bad...

[Jolly]

At least Horace should be down in time for hurricane season.

[Doctor Phibes]

@Horace said in Bad timing:

I'm very pleased with what we were able to get out of this place. Almost the entire COVID era housing bubble bump. Though when you look at the zillow estimate chart, it's just linear if you remove short term spikes during COVID. Same can't be said for where we're buying...

Congratulations, Horace. Ours goes on the market the end of next week...more frighteningly, we're expected to close on the new one in 4 weeks time, so I'm likely to end up owning two houses for a hopefully very short period of time. I try not to lie awake at 5am thinking about this.

[Horace]

@Jolly said in Bad timing:

At least Horace should be down in time for hurricane season.

I'm looking forward to rain storms... we'll have a big back patio and a big pond back there that I think will be beautiful during the rain.

[Aqua Letifer]

@Jolly said in Bad timing:

@Aqua-Letifer said in Bad timing:

@Horace said in Bad timing:

@Jolly said in Bad timing:

I think it will all work out.

And now, a bright note...You'll be moved just in time for...Wait for it...

https://www.texrenfest.com

I do like the ladies’ attire at those.

Texas Renn Fest is no damn joke. It's Burning Man with a theme. Crazy shit goes on there.

Cover your drinks.

It's not quite that bad...

Go as cast or a boothie and we'll compare notes.

[Horace]

@Doctor-Phibes said in Bad timing:

@Horace said in Bad timing:

I'm very pleased with what we were able to get out of this place. Almost the entire COVID era housing bubble bump. Though when you look at the zillow estimate chart, it's just linear if you remove short term spikes during COVID. Same can't be said for where we're buying...

Congratulations, Horace. Ours goes on the market the end of next week...more frighteningly, we're expected to close on the new one in 4 weeks time, so I'm likely to end up owning two houses for a hopefully very short period of time. I try not to lie awake at 5am thinking about this.

Good luck! I think it's good to get on the market asap. But a crash is not imminent. Stay away from youtube videos about the real estate market, btw.

[George K]

@Doctor-Phibes said in Bad timing:

end up owning two houses for a hopefully very short period of time

I did that...twice.

The second time I ended up renting the place for just enough to cover taxes, etc.

No joy. None whatsoever.

Good luck, @Doctor-Phibes

[89th]

Congrats @Horace, my realtor had the same signature in her email too. Perhaps it’s semantics, but usually when you both sign the closing papers, the property is officially transferred to the new owner unless you had a rent-back in the contract. Anyway, time to buy that Apple Air Tag.

@Doctor-Phibes exciting, and best of luck. Yes market timing isn’t the best compared to 6 months ago but compare it to 6 years ago or even 10 years ago…I’m sure you’re home value is up. You should move to Minnesota btw. Horace too.

[George K]

@89th said in Bad timing:

Perhaps it’s semantics, but usually when you both sign the closing papers, the property is officially transferred to the new owner

Just for the sake of clarity, it's "closing papers" not acceptance of the contract.

Big, big difference.

So, what's the timeline for the move?

[Jolly]

@Horace said in Bad timing:

@Jolly said in Bad timing:

At least Horace should be down in time for hurricane season.

I'm looking forward to rain storms... we'll have a big back patio and a big pond back there that I think will be beautiful during the rain.

You'd have been ecstatic over the last week or so.

[Horace]

@George-K said in Bad timing:

@89th said in Bad timing:

Perhaps it’s semantics, but usually when you both sign the closing papers, the property is officially transferred to the new owner

Just for the sake of clarity, it's "closing papers" not acceptance of the contract.

Big, big difference.

So, what's the timeline for the move?

We are planning on getting everything packed into UPack ReloCubes on Thursday, and leaving Friday morning. Will travel over the labor day weekend, with two overnight stays at airbnbs on the way. Then a one month stay at an airbnb in Houston. Our new home should be ready to close in early october, but we'll be looking for other places to buy before then. We think we might be able to get a price reduction on the one we're under contract for, but that's only realistic if we have a place we are serious about as an alternative. I really like the home we've chosen, but we think a new buyer would be able to get it cheaper. We signed for it at the tippy top of the market, in june.

[Doctor Phibes]

@Horace said in Bad timing:

@Doctor-Phibes said in Bad timing:

@Horace said in Bad timing:

I'm very pleased with what we were able to get out of this place. Almost the entire COVID era housing bubble bump. Though when you look at the zillow estimate chart, it's just linear if you remove short term spikes during COVID. Same can't be said for where we're buying...

Congratulations, Horace. Ours goes on the market the end of next week...more frighteningly, we're expected to close on the new one in 4 weeks time, so I'm likely to end up owning two houses for a hopefully very short period of time. I try not to lie awake at 5am thinking about this.

Good luck! I think it's good to get on the market asap. But a crash is not imminent. Stay away from youtube videos about the real estate market, btw.

Thanks - we should be fine as long as it doesn't crash - we've got some money put by for the short term pain, and the market's still pretty decent here.

I'm swapping a 20 minute commute 5 times a week for a 1 hour commute 3 times a week, and almost double the square footage. If everything plays out, we'll be pretty much mortgage free at the end of it.

[Doctor Phibes]

@89th said in Bad timing:

You should move to Minnesota btw. Horace too.

We considered going back to Canada, which is almost the same thing, but I need to stay here for the work. We still might go back up north at some point. I really loved it there.