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The Kitchen Table

Bridging the gap between home sale and home purchase?

8 years ago

For those of you who have sold your home and moved to another house, how do you plan for the possible gap between selling and buying, where you may have to wait for weeks for a closing date? Especially if there are pets/furniture involved?

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Marilyn Sue McClintock

8 years ago

We always had another home bought before we sold our home.

Sue

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Comments (9)

Rudebekia
8 years ago
One possibility is to put off the closing date for the property you are buying for as long as possible, sell your current home, and then time the closings so that they are on the same day or close to each other. That's what I did when I moved. It worked out well.
maire_cate
8 years ago
last modified: 8 years ago
My brother and his wife sold their home in a week yet their new home wasn't finished. They contacted their mover who put their furniture in storage and they lived in a rented one bedroom apartment for 3 months. They just moved into their new home last month.

They thought about staying with their children for the duration but decided that they didn't want to impose on their kids for that long. Their dog was elderly and ill and they even postponed listing the house until the dog was gone. They didn't want to subject her to the hassle of realtors, visitors or a move.
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chessey35
8 years ago
That's what we plan to do when we move. The possibility exists of too many hang-ups between settling on the old house and the new.
lindaohnowga
8 years ago
We bought our home before selling the old one. It was costly keeping two houses going, but we weren't going to be without a place to live for us and our animals.
nanny98
8 years ago
Our last move went so well because we entertained the idea of moving to Oregon several months before it happened. We were retired or almost. We started looking on vacations a year before and started a huge "downsizing' effort during those months. Rented a large (controlled temp) storage unit and began weekly trips with packed stuff we wanted to keep along with a yard sales with stuff we wanted to be rid of, donated lots too. We actually had two houses 4-5 hour drives apart. As we were leaving our DS's house here in Or., our agent called about the house we now have. We stopped on the way out of town with Grandkids etc....saw this house and made an offer instantly. It very quickly was accepted. Escrow took about 60 days and our house in California was sold the first day on the market. We did have our 'backup' house up in the foothills in case of any delay, and a motorhome....but everything went so smoothly. After the movers and us got set up here in Oregon, DS and DH went back to our storage unit and moved a whole moving van of packed stuff. Went smoothly. We have moved about 25 to 30 times, from coast to coast and overseas....this one was hard work (because we only had help for major furniture), but was the easiest move ever.
Lindsey_CA
8 years ago
You could possibly work something out with the buyers of the home you are selling, to rent it back from them until you can move into your newly purchased home.
adellabedella_usa
8 years ago
We've always done two house payments. We've also had relocation benefits houses so that made it affordable. One time we had to live in an apartment for few months because the first house sold really quick and the second house was just starting construction.

Depending upon where you live, you may be able to find an extended stay type hotel or a shorter term lease apartment that will bridge the gap between houses. That was an option for us this last move. All of our stuff would have gone into storage. Fortunately, we realized what was happening and were able to get our second house built and finished before we needed it. We only needed a motel for three nights.
happy2b…gw
8 years ago
My daughter has her home on the market now. She plans to have a ratified contract before putting in a bid for a new home. Hopefully the timing will work. Her plans are to rent back from new buyers and/or live with DH and me for a while. Should not be a problem. Hoping for the best.

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