Outline ·
[ Standard ] ·
Linear+
Selling a house while living in it?
|
TSmurcielagoSV
|
Jan 10 2021, 10:32 PM, updated 5y ago
|
New Member
|
My family have been living in this house for at least 25 years now and we are thinking to sell it and purchase a new house,is it possible to sell a house while living in it? our plan is sell this house we are living in and purchase a new one without taking loan from bank and there is no way we can afford a new house without selling this house we are living in,the house is not in bad condition but definitely not in a condition any new buyer would move in without renovation,the house is leasehold title and house loan is paid off.
|
|
|
|
|
|
tsg_7
|
Jan 10 2021, 10:52 PM
|
|
QUOTE(murcielagoSV @ Jan 10 2021, 10:32 PM) My family have been living in this house for at least 25 years now and we are thinking to sell it and purchase a new house,is it possible to sell a house while living in it? our plan is sell this house we are living in and purchase a new one without taking loan from bank and there is no way we can afford a new house without selling this house we are living in,the house is not in bad condition but definitely not in a condition any new buyer would move in without renovation,the house is leasehold title and house loan is paid off. Leasehold at least need 6 months to get the title changed. So even after signed SPA with the purchaser, u still have time to stay in before the disbursement by purchaser's Bank. But if u need to stay longer period is better to talk to purchaser at the very 1st time u meet them and let them know how long actually u need to stay after the disbursement has been made. Consider as rent from them after the disbursement. Easy to say is depend on both parties agreement.
|
|
|
|
|
|
idoblu
|
Jan 19 2021, 10:06 AM
|
|
can sell, why not? Ive done the same thing but once it is handed over to the new owner, you will need a place to stay.
my steps in my own case - 1. bought a new place with 10% deposit for new property which needed 3 years to complete. 2. start selling the current house which i was living in. it took quite awhile like 1.5 years or bit more. 3. after hand over to new owner I rented another place and moved out 4. waits for new place to be completed while renting
|
|
|
|
|
|
LeonL
|
Jan 20 2021, 06:33 PM
|
New Member
|
but what exactly is the question here? are u asking whether when u sell, can u sign the SPA using the same address of the house you are selling? QUOTE(murcielagoSV @ Jan 10 2021, 10:32 PM) My family have been living in this house for at least 25 years now and we are thinking to sell it and purchase a new house,is it possible to sell a house while living in it? our plan is sell this house we are living in and purchase a new one without taking loan from bank and there is no way we can afford a new house without selling this house we are living in,the house is not in bad condition but definitely not in a condition any new buyer would move in without renovation,the house is leasehold title and house loan is paid off.
|
|
|
|
|