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Bought a place in Kentucky - now need to sell this one!

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  • Bought a place in Kentucky - now need to sell this one!

    Since 2006, when we bought 32 acres of pasture in south central Kentucky, we've planned on moving down when my husband can retire in 2014. Because we were nervous about interest rates climbing and also because we found a gorgeous place with a house already on it, 25 acres - half pasture, half wooded with a barn, we bought it - closed last week! I can't tell you how excited I am about moving! We sold the land and made enough to cover the mortgage for the next year.

    So now we have to sell our house here in MA. Hubby wants to list it now, but what happens if we sell it before we want to move (Feb or so, 2014)? The market here in MA has been really slow, which is why he wants to list it now. I don't think it will be a quick sell because it's horse property, so it will need to be marketed to a specific buyer. But I just can't help but worry about what we'd do if we had a buyer who wanted to move right in.

    What would you do if you were in our position - list it now or wait? And if wait, how long?
    Last edited by Fessy's Mom; Feb. 4, 2013, 10:26 AM. Reason: Clarify situation
    I would like to think I will die an heroic death...

    But it's more likely I'll trip over my dog and choke on a spoonful of frosting.

  • #2
    How about list it, move to a rented place if and when you get it sold before moving to the new place.

    May not have to rent, if yours is still not sold.

    Comment


    • #3
      I'd list it now too... tis the season.

      Have a place lined up to rent - something cheap that will work temporarily till you move South. It'll be a good way to downsize your stuff, sell off what you can and bank the proceeds towards new stuff when you get to KY. Plus maybe ask new buyers if you can "board" the horses right there until you move. If they say no, have Plan B for field boarding lined up.

      I remember when you and Mr. FM bought that place. It is lovely!
      <>< Sorrow Looks Back. Worry Looks Around. Faith Looks Up! -- Being negative only makes a difficult journey more difficult. You may be given a cactus, but you don't have to sit on it.

      Comment

      • Original Poster

        #4
        That's the tough part - we have two horses, a donkey, five dogs, five cats and three birds. I can't imagine we'd be able to find a place to accomodate all of them! LOL! I'm hoping if we find someone to buy it they'll agree to rent it back to us until we have to move. That would be the best of both worlds.
        I would like to think I will die an heroic death...

        But it's more likely I'll trip over my dog and choke on a spoonful of frosting.

        Comment


        • #5
          List it, let people know it's available. Then you can either arrange to lease it back, or delay their closing, or something else that works for everyone involved.

          If you get a buyer who absolutely wants it right now this minute, then just don't accept their offer unless you can figure out temporary quarters for everybody.
          --
          Wendy
          ... and Patrick

          Comment

          • Original Poster

            #6
            Chocomare, we sold that property and bought another one close by but with an almost new 1800 sq ft ranch, 25 acres and a barn. We couldn't have built a house like it on the other land without spending a lot more than we did for this new property.

            wsmoak - that's what I'm thinking is how we'll have to do it.

            Bluey - believe me, we're prepared for that possibility too, but refuse to worry about it until the time comes.
            I would like to think I will die an heroic death...

            But it's more likely I'll trip over my dog and choke on a spoonful of frosting.

            Comment


            • #7
              We are kind of in the same boat - we have five acres in Aiken that we want to build on. We have to sell our place here to be able to build the new house, but need to time it so that we can build in the summer. We will have to rent a place in Aiken while we are building, and summer would be a much better time to rent there than winter, when everybody is there! We have four horses, three dogs, and two cats. We just started advertising our place here for sale. We are lucky in that we have no deadline to be out, but are not hopeful that it will go quickly in this economy.
              stained glass groupie
              www.equiglas.com

              Comment


              • #8
                Originally posted by Fessy's Mom View Post
                Chocomare, we sold that property and bought another one close by but with an almost new 1800 sq ft ranch, 25 acres and a barn. We couldn't have built a house like it on the other land without spending a lot more than we did for this new property.

                Oh cool!
                <>< Sorrow Looks Back. Worry Looks Around. Faith Looks Up! -- Being negative only makes a difficult journey more difficult. You may be given a cactus, but you don't have to sit on it.

                Comment


                • #9
                  I have a brilliant idea (if I do say so myself)....list your place, it will take a while to sell, and if worse comes to worse, you move with animals to KY and leave hubby up here in apartment to finish out his working days. Then he can join you.

                  Comment

                  • Original Poster

                    #10
                    I'd do that tomorrow!
                    I would like to think I will die an heroic death...

                    But it's more likely I'll trip over my dog and choke on a spoonful of frosting.

                    Comment


                    • #11
                      We're in a similar position

                      We're in a similar position - own 6 acres in Central (East Coast) Florida but inherited 80 acres in Ky. So SO started building a house up there (exterior done, Interior started) but my job is in Florida. No way would I make near the money up there I would down here. So looking into a "virtual" job - so I could continue to live in Florida until we sell - then move to KY and keep my job.

                      Luckily we have some fencing and an old barn - so once we get enough done on interior of house to make it livable (started on bathroom) then we can sell and move.

                      Once we sell Florida house we'll have enough money to pay someone to put up good fencing and a barn (and garage).

                      A bit sad since Florida house is energy efficient, low maintenance (brick, metal roof, etc.) full-sized dressage arena with lights, good fencing - i.e. except for land size it's what we wanted. Oh well - someone will be happy when we list it.
                      Now in Kentucky

                      Comment

                      • Original Poster

                        #12
                        It's just so hard timing everything out though isn't it? You're so lucky to have inherited the land, so no pressure to move right away, except that hubby will want to soon after he does all that work. I feel guilty paying a mortgage on a house we aren't even living in - makes me feel better when I call it our "vacation home".

                        I've contacted equine properties, so hopefully they can offer us some tips on when to list it. I've already started throwing stuff out and selling stuff on E-Bay so we don't have as much to move. So exciting!
                        I would like to think I will die an heroic death...

                        But it's more likely I'll trip over my dog and choke on a spoonful of frosting.

                        Comment


                        • #13
                          Freshair is exactly right! And when you pick a realtor only get one who does great pictures, posts on realtor.com with a bunch of house and barn pictures, and is full time. Everything should be top notch, with the house dusted top to floor, carpets cleaned if they need it, purge everything you don't need and don't want to move right now. Make sure the basics are done, with all lightbulbs working, nothing broken (you would die if you saw some of the expensive places for sale on a big house tour I went on, with broken windows, etc, burned out bulbs, and dust everywhere), change the furnace filter, and have a stack of spares right there, furnace room neat also. All of the bushes trimmed, and flower beds mulched or neat. Go through the barn and out buildings and get rid of stored stuff you don't need, and line up temporary boarding if you'll need it, in case your place sells quickly and you need to move ASAP. Price you place well, and decide what your lowest figure is. Plan what you'll do with the animals during showings. Have a binder with feed suppliers, vets, farriers, shipping etc, listed, and a list of all plumbing, painters, service providers you use also. A page with utility providers that service your area is great too. If there is anything you want to take with you that is attached, like lights or other permanent fixtures swap them out now. Before all showings open the curtains and turn on all of the lights. Purge closets and storage areas with only items you use left behind. This is the time to go through clothes, furniture, and household goods and purge everything. There is no point storing, and moving something you don't even want. If you need to neutralize the paint in any room do it now. Boring beige (my house walls are called Lulled Beige-can't get more boring than that name) in flat latex is good. Kitchen and bathroom counters need to be empty, and purging unused kitchen stuff is a good thing. You'll be amazed at how much stuff you never used, and never wanted. Decide now what appliances you're leaving behind, and make sure you tell about anything you are taking with you in the realtor's ad. They have to advertise on realtor.com, and not just on their own website. Most people shop first online these days, and if there aren't a bunch of pictures, or they're bad, then I assume there is something they are hiding. Make sure the realtor takes pictures of the major assets of your house, whether it's a great closet, beautiful kitchen, or shows how homey the living room is. If you are near a good trail system, or there is a show facility nearby make sure the realtor mentions it. Interview a few realtors, and ask them how long their exclusives take to sell, and what their marketing plan is. You can get little blimps to take aerial photos also, and it's not expensive.
                          You can't fix stupid-Ron White

                          Comment


                          • #14
                            WHERE in Central MA?

                            I'm not looking, but I'm curious!

                            Comment

                            • Original Poster

                              #15
                              JanM - thanks for all the great tips! Will definitely use them!

                              Ruth - check ur pm's.
                              I would like to think I will die an heroic death...

                              But it's more likely I'll trip over my dog and choke on a spoonful of frosting.

                              Comment


                              • #16
                                The major rule to house showings, is that it should look like no one lives there. And unfortunately, you need to hide everything valuable, all prescription or interesting meds, knick knacks, and take down all personal pictures, just leave a few of the neutral pictures to emphasize focal points. I have had friends that lost valuable picture frames (the silver wedding frames), expensive glass paperweights and figurines, and definitely anything portable you don't want to lose. All personal financial stuff needs to be be stored safely away from the house too, including passwords, checkbooks, and all personal vital paperwork like passports. I hate to be so negative, but there are people who will steal items during a showing or open house.
                                You can't fix stupid-Ron White

                                Comment


                                • #17
                                  Yeah, I'd list it now, so that you have the spring, summer and fall to sell it. If you wait, you won't sell it until after you are ready to go! If you sell it 'too early' you can either negotiate some delay for occupation or rent something else for a while. I had a friend whose husband needed another year before retirement and she went ahead and moved her and horses to new place, he rented an el cheapo place to stay back at home for another year, and they traveled some for visits. Worked out great, meant they could get their dream started without the stress of maybe not selling later.
                                  My warmbloods have actually drunk mulled wine in the past. Not today though. A drunk warmblood is a surly warmblood. - WildandWickedWarmbloods

                                  Comment

                                  • Original Poster

                                    #18
                                    JanM - more great tips! Thank you! I'm going to speak to hubby this evening and try to get him on board with using this month to prep the house for listing - ie - getting rid of stuff and just overall neatening. And definitely agree with the light bulb thing - all makes great sense!

                                    Ambitious Kate - I agree - like I told Jan, I think we'll use this month to square things away and list it starting in March. Worse comes to worst, I'll just have to move down without hubby for awhile. Best outcome, we have someone who's agreeable to renting it back to us. Either way, we'll be able to make it work.
                                    I would like to think I will die an heroic death...

                                    But it's more likely I'll trip over my dog and choke on a spoonful of frosting.

                                    Comment


                                    • #19
                                      You and the animals move to KY if your place sells early and hubby can rent an apartment till he retires? Not the best to be apart( ask me how I know) It would only be a few months anyway, since it is already Feb and your not even listed yet.

                                      Comment


                                      • #20
                                        If you have extra furniture or anything that you don't want out during the sales process move that to the new house now. And this a good time to evaluate the furniture, and decide what you do or don't want to move. If you are tired of a piece of furniture or if it won't fit in the new house, then consider leaving it or selling it when your place sells. If you're storing things for others then set a strict deadline for pickup. If any of the rooms are funky colors, then paint them. Empty the closets as much as you can, because you want it to look as if the house has lots of storage space, and packed-full closets don't give that impression. The outbuildings should be purged of stuff also, because no one wants to get rid of someone else's stuff.

                                        And remember the prime selling months start soon, so plan to price well, have lots of great pictures, and hit the market hard when people are looking. Be prepared to move quickly if that gets you a better deal from a buyer, and have plans for what happens if your place goes on the market and sells immediately. If anything needs to be painted or repaired, then arrange for that now, so you don't end up telling potential buyers that you'll get something done, because many sellers promise things, but don't deliver. Be prepared to have a deal or more than one fall through. Don't be surprised by a few tire kickers, some people actually do tour places just for fun. Don't limit your potential buying pool to only horse people, when someone might want your place for a kennel, or other types of animals. You don't want to limit your buying pool, so market widely.
                                        You can't fix stupid-Ron White

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