Hi
Confused and Stressed
Firstly I just want to apologise. These days I seem to be taking more than giving as i've been so busy lately with everything. I'd like to contribute more and help others with feedback but just not possible atm.
I'm a little stressed and would like to hear from others who have been in the same boat.
I might be selling my ip before buying. I have an offer tomorrow so I'm hoping it will be a good one and I'll accept it. If it is not the amount I want I'll put it back on the market at the end of the year, but i'm thinking positively that i'll get over asking! Anyhow I'm just about to put through a loan application, hopefully in the next few days.
I kind of wished I had sold first now before buying but then again I just didnt know how long it would take to sell. The offer tomorrow might be acceptable to me or might not be. Plus I really need to be getting into the market sooner rather than later so there is an urgency.
What are the advantages and disadvantages to selling first and then buying. I'm keen and happy to go down this route but I just need some more info. What happens if for instance I were to buy something whilst the ip I have just sold is half way through settlement? I'm confused. Does it mean I'll just have to pay a little more in LMI because my LVR is higher. I'm fine with LMI. I dont mind it. And what happens once the ip's loan is discharged.
I'm meeting with buyers agents next week and I'll be getting the ball rolling. Do you think its a good idea to sign up with the BA and get them putting offers down for me even whilst my ip is settling or should I get the BA to wait till my ip is sold and discharged. What are the pros and cons there? Hoping to meet up with MB soon
Hope someone can help. thanks
Confused and Stressed
Firstly I just want to apologise. These days I seem to be taking more than giving as i've been so busy lately with everything. I'd like to contribute more and help others with feedback but just not possible atm.
I'm a little stressed and would like to hear from others who have been in the same boat.
I might be selling my ip before buying. I have an offer tomorrow so I'm hoping it will be a good one and I'll accept it. If it is not the amount I want I'll put it back on the market at the end of the year, but i'm thinking positively that i'll get over asking! Anyhow I'm just about to put through a loan application, hopefully in the next few days.
I kind of wished I had sold first now before buying but then again I just didnt know how long it would take to sell. The offer tomorrow might be acceptable to me or might not be. Plus I really need to be getting into the market sooner rather than later so there is an urgency.
What are the advantages and disadvantages to selling first and then buying. I'm keen and happy to go down this route but I just need some more info. What happens if for instance I were to buy something whilst the ip I have just sold is half way through settlement? I'm confused. Does it mean I'll just have to pay a little more in LMI because my LVR is higher. I'm fine with LMI. I dont mind it. And what happens once the ip's loan is discharged.
I'm meeting with buyers agents next week and I'll be getting the ball rolling. Do you think its a good idea to sign up with the BA and get them putting offers down for me even whilst my ip is settling or should I get the BA to wait till my ip is sold and discharged. What are the pros and cons there? Hoping to meet up with MB soon
Hope someone can help. thanks