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Mama Deb
mamadeb
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December 2010
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Mama Deb [userpic]

My landlady just had the house appraised.

I work in a real estate office. I know what that probably means (probably because she could also be doing it for insurance or tax reasons).

If she's thinking of selling, we have to start thinking of buying something. Not this house, unless it's in our price range (although wouldn't that be nice? She has a gorgeous kitchen.) but a house or a condominium. But buying because I'm tired of living at the whim of someone else. We've been thinking along those lines anyway. And our lease is up in September. Which might be enough time.

So. What would be the first step?

Comments

Five months is a lot of time to find a house.

As a data point: When Dani and I bought our house we started looking in late April, had a signed sales agreement sometime in June, and closed in August. Even with Sundays being the only practical days to see places, we were generally able to see 5 or 6 in an afternoon so it only took a month or so to run through everything on the market that met our minimum requirements.

Going from house to house can be hard if the ability to buy the one is contingent on your selling the other. But that's not your situation. (I owned a house when Dani and I went looking, but the mortgage companies were so forthcoming with offers to lend outrageous amounts of money that I was able to say to them "ok, the delta between what we're willing to spend and what you're willing to lend is three times the outstanding balance on my current mortgage -- so how 'bout you remove that contingency clause?". Of course, this is Pittsburgh.