After accepting a contract for our house (with a house sale contingency and a 72-hour kick-out), I listed it for rent online. Within a few hours, I received responses. Over the last week, 10 renters have come through the house and more are scheduled this week. About half of those who toured requested applications.
As we expected months ago, everyone wants to live in our house!
We contacted the buyer via her real estate agent on Thursday. We're now past the 72-hours of the kick-out, but they're under an extended deadline. By noon tomorrow, they must decide whether to withdraw their house sale contingency or to withdraw their purchase contract altogether.
If they withdraw the contingency, then we will effectively have sold our house. We can place the money in savings and have no resposibilities awaiting us while we're away.
If they withdraw the contract, then we will rent the house. Based on the response to our initial listing, we will have no trouble. We'll make extra income every month, and be able to sell at a higher rate and in a better market.
Both positive options. Eighteen hours and counting...
Monday, August 13, 2007
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