stress while waiting for settlement

ag19426

10 years ago

Hi All,
I have settlement to sell my house and buy a new one in about two weeks on the same day. While home inspections and appraisals for both houses went fine, I feel like I am getting more and more stressed. What if the buyer's financing falls through. What if I forget to do something. What if . . .
While it is understandable to be stressed, I would prefer to calm down, since there is nothing else I could do at this point but wait.
Were you stressed those last few days before settlement?
How did you cope with your stress?
Thank you for all your advice!

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Comments (5)

FmrQuahog
10 years ago
Absolutely stressed leading up to settlement! As of this minute, the settlement date on our sale is Aug 1, but there have been multiple potholes and white-knuckle moments since going under contract ~5 weeks ago. Until we're sitting in the lawyer's office, signing papers, I'll have non-stop agita. :-(
barbcollins
10 years ago
I have never been in that position before (two settlements in one day) and can't imagine. Just one settlement is bad enough. I am a person who likes to plan, plan and plan some more. And go by that plan.

But I know it's done frequently, so it must work out.

I heard a saying once, and try to remember it whenever I get stressed out about things.

"Everything will be ok in the end. If it's not ok, it's not the end".

I hope everything goes smoothly for you. But if you expect and plan for some hiccups you will be better off than not. Sit down and think about the "what if's" that are bothering you, and then think about what your best option would be.
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ncrealestateguy
10 years ago
"Everything will be ok in the end. If it's not ok, it's not the end".
I like this a lot. I have many opportunities to bring this up.
I advise my clients to stay away from double closing on the same day... too much of a headache when the first one does not close on time. A large percentage of closings these days do not happen on time. And the worst part is that it is out of the buyers/sellers/agents control at that point.
Also, even if the first one closes on time, the second closing can get held up until the wired funds get into the attorney's account and then into your account. The second closing will not happen until those funds are available.
Good luck.
Tmnca
10 years ago
We bought our new place and closed on it 2 weeks before our previous home sold. It was very stressful because although we were approved for the mortgage even with the existing one, it would have been a serious financial strain to have to pay both mortgages overlapping.

I kept myself distracted with the plans and purchases for renovating the new home - which was all DIY - had to pick flooring and paint colors etc. I had it all planned out so I could get the flooring and painting done in less than 2 weeks... we had ended up renting a temporary furnished apartment for 1 month and put our stuff in storage. So I had to have the new place move in ready after 2 weeks - which I did!

You will get through it, and transactions rarely fall apart this late in the game.
ag19426
Original Author
10 years ago
Thank you All, for your kind words. Less than two weeks now. . .