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.
Quick update
August 17th, 2014 at 05:37 pm
August 17th, 2014 at 06:15 pm 1408295734
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.
August 17th, 2014 at 06:19 pm 1408295972
August 17th, 2014 at 07:17 pm 1408299475
August 17th, 2014 at 07:21 pm 1408299686
August 18th, 2014 at 04:05 pm 1408374312
August 18th, 2014 at 04:38 pm 1408376325
August 22nd, 2014 at 04:07 am 1408676825