I am looking to sell my home and move back to a different city. Since my wife passed I have more support in the new/old area. I guess you can see I'm in Bend, Or. RE is hot right now. 2 homes on our street have sold this year in under a week.
I have not found a new home yet because I have a very specific area I'm looking at. A total of about 30 homes would work for me. There are several original owners from 2007-2008. Some of those original homes are pricing now at about what they sold for in '07-08. So housing bubble. So no big payday for them beyond the mortgage paydown.
A neighbor in Bend called me yesterday & said she heard I'm moving & selling out. She said she has a friend that wants to move over to Bend and likes our street/area. I told her the story about having to wait...maybe a year. After hanging up I was thinking. What if I rented a room to her until I found a new home? Then make the transaction. Win-win? I split time between the 2 cities now about half & half.
If you did this how would you structure it? Lock in a price now? Just avoid it entirely? Sounds like she is a teacher. I don't know the status of the schools next year. Did not sound like she has secured a job yet. It would suck if she was a whack job. I'm leaning towards not doing it. Upside buyer is locked it without a RE commission. Downside she walks & I have to list it after making repairs
I have not found a new home yet because I have a very specific area I'm looking at. A total of about 30 homes would work for me. There are several original owners from 2007-2008. Some of those original homes are pricing now at about what they sold for in '07-08. So housing bubble. So no big payday for them beyond the mortgage paydown.
A neighbor in Bend called me yesterday & said she heard I'm moving & selling out. She said she has a friend that wants to move over to Bend and likes our street/area. I told her the story about having to wait...maybe a year. After hanging up I was thinking. What if I rented a room to her until I found a new home? Then make the transaction. Win-win? I split time between the 2 cities now about half & half.
If you did this how would you structure it? Lock in a price now? Just avoid it entirely? Sounds like she is a teacher. I don't know the status of the schools next year. Did not sound like she has secured a job yet. It would suck if she was a whack job. I'm leaning towards not doing it. Upside buyer is locked it without a RE commission. Downside she walks & I have to list it after making repairs