[sallymollyap]

My husband and I are living in a mobile home at the moment. We have been approved to buy a house. We have found a house that we really like and we are about to make an offer. My question is when do we put our mobile home up for sale? We don't want to sell it too early and then not have all the closing done on the new house, but at the same time we don't want to sell it too late and have to pay 2 mortgage payments. What do we do?

[wilderwriter]

You can try to arrange for what is sometimes called a "bridge" loan that will allow you to temporarily pay both mortgages while you move. Could you put your stuff in storage and live with friends or family during the interval? You can also try to get the house seller to accept a contingency offer, where closing on the new house is dependent on selling your current place, but that could cause the new purchase to fall through, even if they agree to hold the place for you for awhile.

[irishwhiskeyslammer]

Back away and don't buy yet !!! The market is going down hill and the prices of homes r dropping. Wait until the stimulas package is done and then see where the market is goes.

[redwine]

In this market, risk selling it too early, and store your stuff and rent for a little while if you need to. The more likely risk is having two mortgages outstanding, although I have no expereince with mobile homes, it might be a hot market and sell within hours. A lot of buyers put a contingency into their agreement that makes the purchase, contingent on the sale of your existing property. Don't be long two properties if you cannot afford it, that could be disasterous. good luck. tba

[spud]

get the house first then once moved in sell the porta home for a knock down to sell quick !!