Relocating next year...when should I list?

Question

I live in a duplex that I own and I am planning on listing it for sale very soon so that I can relocate. I am planning to move around this time next year (during the summer)...I need to live here through the year as I hate to pay to move, just to move again. I am a teacher, so ideally, I can live here through next May/June. With the market as it is, I realize it may take quite awhile to sell, yet, I do not want to list too early or too late...what would you recommend I do?

Answer 1

You want to play real estate roulette.  I wouldn't suggest it in this market especially with a duplex.  Maybe two to three years ago you could of, but not now.  Put the duplex up for sale immediately.  It takes a long time to close and deals could fall through with the restricted lending out there now.  If you have to move into a month to month big deal. throw your stuff in storage, it will be easy to move when the time comes. This is a lot easier than putting your plans on hold because your duplex isn't selling.  Why chance your future plans because you want more convenience now.  The transition isn't easy, but it is better than lowering your price numerous times when it comes close to the time you want to move, and then your move date passes by and you still have the property. GOOD LUCK and sorry your hearing what you don't want to hear.

Answer 2

List and sell right now with a lease back the new owners of the income property will love it. Make sure that the Realtor puts that into the contract he may also want to put that into the MLS. Purchase lease backs are very common don't be afraid of them. Investors love it because of the built in tenant situation. It also allows you to determine the rent you will pay prior to sale.