Home Buying in Birmingham>Question Details

Johnnyp500, Home Buyer in ,

Make an offer, sign, move in 6 months?

Asked by Johnnyp500, , Sun Apr 28, 2013

Hi
I found a house that I like but didn't expect to find it so quick since my apt lease doesn't end until January 2014. I want to make an offer, Ive been pretty approved for a mortgage, but I Dont want to put down money or move until January.

Is it common to shake hands, close the deal, but for a future date? So sign everything now and do everything later.

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Answers

6
Only thing I can think of is asking them to rent it until then. Depending on your apartment complex there is normally a way around the lease. I have also seen negotiations work out where the buyer is able to "buy out" the apartment lease because the lender was able to get them into the home for very little money. - You have to think outside the box on these and think about yours and the sellers goal. - You want it - they want you to have it. So you may have to meet in the middle (example - your apartments may allow you to pay a couple of months rent to get out a few months early. - So maybe you can negotiate now with the seller for just waiting a few months and not until January.

Shoot me a call or email trey.horton@htmortgage.com 205-358-8159

Trey Horton
0 votes Thank Flag Link Mon Apr 29, 2013
That would be an exceptionally long wait for a seller even with a good bit of earnest money down. As previosly mentioned if you like the home your best bet is to get your apartment rented or subleased If allowed. In todays market if the house you like is in good condition and priced competitively then it won't last long. If it sells will you be upset you missed it? If so, look at your lease. Get qualified for a loan, and call me to make an offer on the home you want.

Best of luck,

Aaron Sims
2058340798
Aaron@jaaronsims.com
Web Reference: http://jaaronsims.com
0 votes Thank Flag Link Sun Apr 28, 2013
If I was in your situation, I would try to sub-lease my lease or talk to your land lord about canceling your lease. This is the time of year when people are moving. Your land lord may be willing to find another renter since this is the time of year when people are moving at this time.

Jean Thrasher
Keller Williams
223-5570
0 votes Thank Flag Link Sun Apr 28, 2013
That would be very uncommon to find a seller willing to tkae you up on that offer. Whenever a home is listed for sale, the seller generally wants it sold ASAP.

It would have to be a VERY desparate seller to take a home off of the market for nearly 9 months with no deposit and only a signed contract.
0 votes Thank Flag Link Sun Apr 28, 2013
Anything is possible if all parties agree but it would be highly unlikely that a seller would want to tie their home up for several months and they would be less likely to agree to it without some money down. I would say that if you do not want to purchase a home until Jan. that your best option would be to wait until October to start looking and write a contract in November. You will not know for sure however unless you ask. You never know. The worst that can happen is that they say no. Have a great week.
0 votes Thank Flag Link Sun Apr 28, 2013
Wouldn't that be nice,but sellers have a reason for selling they want to move on, can't tie down an interest rate that long and your pre-approval may not be good in six months, you could lose your job, hope not, you may need to make a major purchase such as a car anything can happen in six months that why its not very realistic to think someone would take their house off the market for six months. If you really like the home you found try to sub lease or see if the seller will help with the fee to break your lease. I would be very unlikely that they will wait with no money down for six months.

Ginny Willis
Re/Max First Choice
205-585-3184
0 votes Thank Flag Link Sun Apr 28, 2013
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