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Updated over 3 years ago on . Most recent reply

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Mason Yost
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Need help with a property buying issue I have

Mason Yost
Posted

Hey everyone, I have been planning on buying a property with my fha loan and house hack it for awhile. My plan has been to buy the property in the spring and move in by April. I keep up with my local market and evaluate deals weekly and there is a property that I have been watching for a couple weeks now that fits all my criteria and is a big home run deal, the perfect house for me. I have the money and am ready to put an offer in, but due to a lease I am in now and other things it's not logistical for me to move until the spring. I'm lost at what to do? I dont think its common for people to hold a property for 6 months. Should I just hope the house stays on the market for a couple more months or else move on? Anyone have any suggestions that can help me with this predicament? 

Thank you! 

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Bruce Woodruff
#3 All Forums Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
13,796
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11,814
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Bruce Woodruff
#3 All Forums Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
Replied

a) There will be other properties just as nice as this one. Think of it like when you're young and your girlfriend dumps you.....just move on, plenty of fish in the sea....

b) You will be smarter to wait until next spring anyway.....the market should have started returning to more sanr prices by then, unless I miss my guess....

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