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Contributor
Posts: 76
Registered: ‎05-01-2012
0

Need advice.

Hey guys,

   First let me start all of you off by explaining my situation. I have been working really hard repairing and rebuilding myself and my husbands credit in hopes of being able to buy a home next spring and every day I get a little closer to that goal, but it seems like every day I have more questions too!

   We currently own the home that we live in and although I am saving as much money as I can each week its beginning to look more and more like I will be depending on the money from the sale of this home to use as closing cost and such.

    As much as I am going to hate to have to pack up our belongings and move in with my parents again, I know that I will have too.

    My question is how long before we are actually ready to buy should I put my current home for sale ( and no, I don't expect to have any trouble selling it, its an older mobile home that does not need to be moved and people are ALWAYS buying them as soon as they go for sale here)

   Would like to NOT have to be with my parents any longer than I absolutely have to be, but the issue I'm worried about is using the money we're gonna get from the sale.

   Is there a certain amount of time that I would have to let that season in my savings account, or would they understand the situation of having to sell our current home in order to buy a new one?

 

           Thanks.

Community Leader
Super Contributor
Posts: 6,651
Registered: ‎03-06-2010
0

Re: Need advice.

Yes, they understand the sale of your home. All you have to do is provide a copy of the closing statement signed by you and the buyers, deposit receipt and copy of the check and/or wire showing that is where the funds came from (the sale).

You don't need to let the funds age.

 

Most people that have to let the funds age are those that don't have a paper trail to source the funds.

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Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
0

Re: Need advice.


StartingOver10 wrote:

Yes, they understand the sale of your home. All you have to do is provide a copy of the closing statement signed by you and the buyers, deposit receipt and copy of the check and/or wire showing that is where the funds came from (the sale).

You don't need to let the funds age.

 

Most people that have to let the funds age are those that don't have a paper trail to source the funds.


+1 

 

Agreed.............

Good Luck
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