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Quick update

August 17th, 2014 at 05:37 pm

So we'll be moving into the new place Oct. 1 -- or possibly sooner!

We checked on the private student loan I applied NT for, and they're just waiting for confirmation from the university that the amount is right and he is enrolled. We have a month before tuition is due, so I'm not concerned about getting it in time.

Therefore, we decided to give the renters 45 days' notice to vacate by Oct. 1. Things would be tight financially, but we would all be dedicated to finding creative ways to make it work.

The renters got back to me a couple days later, asking if they could vacate early, by Sept. 1, since it might be easier to find a new place vs. waiting until October.

We talked it over. It would be an extra $2175 out of the budget, which is a lot, but not much more compared with what we'd already taken out of the budget by deciding to move Oct. 1. We figured out a way to make it work -- cut back a few more budget categories, and dedicate part of NT's bonus toward making up the shortfall. (He always get a couple thousand every December, and this has been a particularly profitable year for his company.)

And we just can't wait to get out of this staged living situation -- it's very wearying.

So we told the renters that would be fine, but that we would need to know for sure soon. We'll need time to reserve the elevator at our condo and hire a moving van.

If this works out, it will happen in the middle of our spate of UK visitors. So a little additional chaos, but on the up side, we'll have a bigger space (albeit only partly furnished) in which to entertain them.

On the condo selling front, we didn't have any showings for over a week, but now we've got one scheduled for this afternoon. Fingers crossed! If we don't get an offer in the next couple of days we're going to talk to our realtor about lowering the price. If we do that, I also intend to ask her for a discount on her fees. If she refuses, I'll probably tell her that we're considering taking on a realtor who has the ability to post to Realtor.com, Zillow and Trulia, and see if she relents then. Hopefully it won't come to any of that!

If we do sell, even at a great loss, it will be easier on our budget than what we're currently prepared to do, which is carry both mortgages (plus association dues on the condo and utilities in the new home).

Meanwhile, I'm preparing the budget (and my family members) for the worst-case scenario. We have a plan to deal with any eventuality.

7 Responses to “Quick update”

  1. Another Reader Says:
    1408295734

    Good for you for being proactive on selling the condo and "motivating" that agent!

    There's a saying in real estate that "price fixes everything." You only have a few weeks left in the selling season, so grit your teeth and drop the price. Getting rid of that mortgage payment and the high HOA dues is the way to go, even if you have to borrow short term to do so.

  2. Carol Says:
    1408295972

    I hope the fun of living in the new house helps to make up for the belt tightening.I bet it will!

  3. creditcardfree Says:
    1408299475

    Wishing you the best...definitely drop that price!

  4. rob62521 Says:
    1408299686

    As much as you hate to, dropping the price might be for the best. Better to sell it and have some money than none.

  5. My English Castle Says:
    1408374312

    Sounds like a plan. And it might actually be "fun" for your visitors to see all this happening.

  6. CB in the City Says:
    1408376325

    October 1 was my move-in date! So, an auspicious date! It should be good weather for moving.

  7. FrugalTexan75 Says:
    1408676825

    That's great your renters were so willing to move out - I wonder if they knew it was coming?

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