Speak to me directly!
House hasn’t sold in Denver huh? We hear it pretty often at Adam Buys Houses, the story of someone wanting to sell a house but they’d have no place to move. Or even worse, they have to sell a house and it still hasn’t sold!
All types of mortgage lenders all have rules about getting another mortgage in the process of selling a house you still own. Moving can definitely be tough in this situation other than time. If your house hasn’t sold in Denver don’t lose hope.
If you are moving, one of the first things to consider is what type of loan you’ll be getting. If it’s through the Federal Housing Administration (FHA), then there is going to be different restrictions than a VA Loan.
It all depends on your exact situation and make sure you do your homework before making any final decisions. You need to have a valid reason for moving and it cannot be something as simple as “I just felt like moving” in order to be qualified for the new loan if your house hasn’t sold in Denver.
Instead of worrying about paying off two mortgage payments, there is always the option of selling the house and asking the new owners if you can rent it back out from them. If your house hasn’t sold yet it could simply be due to price, area or condition.
Maybe you just haven’t found the right buyer! If you do find the right buyer it could be someone just looking for a second house. This is the perfect opportunity to ask for help in your situation if your house hasn’t sold in Denver.
Whenever you borrow money or make agreements with anyone, there is a set standard of putting things in writing. Especially when it comes to family, the last thing you want is a bad situation.
If you borrow money or have someone cosign for a loan, make sure you are clear about terms and that this is a no hassle issue for you to do. If not, there are other ways to handle things if your house hasn’t sold in Denver.
It is definitely not uncommon in a hot seller’s market like Denver, Colorado to run into situations where people have to sell but don’t have enough time to move out in a jiffy. There have been plenty of times a seller was allowed a post occupancy of 30-90 days after closing to get situated in a new home.
Whatever you do, do not give up on finding a solution to your problem. This article was to help stir up some ideas for creative solutions if you’re trying to move while a house hasn’t sold in Denver. Brainstorm and you will find a way!
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