Quote:
Originally Posted by Gatordash
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I own a home and would like to upgrade to a bigger home in the 600-700k range but I’m coming to the realization I will have to pay 700+ which is why I complain and post in this thread a bunch.
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My ma had to line up selling her home with buying a new one (her sis is living with her so she needed more room), and AFTER she accepted an offer on hers, the person selling my ma their home backed out
Apparently they were having a new home built but due to price increases on materials like lumber they ran out of funds, so they couldn’t sell their home anymore since they had no where to move to. Her real estate agent says this has been happening a lot for anyone trying to have a home built. Whatever funds they allocated to build the home is no longer able to cover the costs
It was a bit of a nightmare for her. She sold hers and had to move into mine for a few weeks. I kept telling her that now she is going to settle for the first thing she can find due to the situation but she said she didn’t want to back out of her sale because having cash in hand available to put down on a new home was a better position than doing one of those buys contingent on selling hers. Luckily after a few weeks at mine she found a nice new home, bought it, and I helped her move in these past few weekends
But ya it was kind of a nightmare process. Buying a new car is a nightmare now too I learned (the hard way)