Coinciding Settlements Clauses - Moving Issues
By Raynor James, Fri Dec 9th
People who are selling their home in order to buy anotherfrequently put a "coinciding settlements" clause into theircontract offer on the new home. One reason for doing this is sothey can move from one home to the other at the same time.
Coinciding Moving Day?
One reason people want coinciding settlements is so they canmove out of one house and into the other the same day. Sometimesthis works out. Sometimes not. If it doesn't work out, don'tfreak
out.
For example, if the house you're buying is a new one, it may notbe completed and have an occupancy permit by the date specified.Are you going to risk losing the sale of your old home byinsisting that settlement be delayed? Not if you're smart andyou really want to make this change. You might explore delayingsettlement, or the option of a "lease back" period. If thoseideas don't fly, it's time to cope.
Depending on your budget and the length of time between movingout of your old home and moving into your new one, you could:
1) Have the moving company store your furniture and householdgoods, or
2) Rent a "smart box," pack your household items into it, andleave it parked in front of your old home, or park it in frontof your new one (depending on who grants permission), or
3) Store your things in the basement or garage of your new home(with permission), or
4) Rent a storage unit by the month, or
5) Store your things in the basement or garage of a relative orfriend, AND
A) Stay in a hotel or motel for a few nights, or
B) Stay in an extended-stay hotel or motel suite, or
C) Stay with family or friends, or
D) Go camping, or
E) Some combination of the above.
The point is to act like a mature adult. Be flexible. You'remaking a big change. The chances it'll go off without a hitchare slim. Keep things in perspective. Practice creative problemsolving. You'll be proud of yourself and have a smile on yourface when moving day comes.
About the author:Raynor James is with http://www.fsboamerica.org - providing FSBOhomes For Sale By Owner. Visit our "sell my home" page athttp://www.fsboamerica.org/seller.cfm to list and sell your homefor free for one month. Visithttp://www.fsboamerica.org/buyer.cfm to see homes for sale byowner.
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