Should I sell now that lost 1 income....
So we listed in April. Found buyer rather quickly for our house. The 2-3 houses we were seriously interested in fell through, either went to contract before we were able to move, or lost to another bidder. All the houses that looked like good possibilities online before listing were in contract and now closed. Inventory is out there but it seems like complete crap on the market, or terribly overpriced.
So here we are about a month later, inspections are done on my house, we finally got the buyer back where we started as far as price. And I find out my wife is unemployed in a month due to low enrollment. She's a teacher on Long Island, probably the hardest teaching job market there is, very little hope that she'll get a job for next year. Although she is not the primary breadwinner, her salary is significant to our budget.
Should we go through with the sale and trade up to a larger house, that we can't seem to find? We thought to do this as we saw some good options out there, and thought we could get a good price on them, good mortgage rate, Opportunity! However, we don't need the larger house just yet.
Staying would involve belt tighting. Moving up would involve more than that about $500 more monthly plus about $15K in closing costs.
After laying it out in black and white instead of just talking about it, this post seems like a waste of space. Its pretty clear what I should be doing, it just we had this idea in our head and had our mind set on moving etc, and seems we did all this work to get to this point and weÂre going to have to pull the plug.
RE is telling us we should send out contracts, etc keep the deal moving, you donÂt really have an obligation until they come back and you sign themÂÂÂ IÂm sitting here thinkingÂ.. I donÂt want to spend the $1500 for the lawyer so I can sit on things another weekÂ.