(Closed) Short Sale Drama…..Move in with IN LAWS?

posted 5 years ago in Home
  • poll: What would you do?
    Stay in current place for 90 days, then decide. : (7 votes)
    28 %
    Move to MIL unit now : (13 votes)
    52 %
    Stay in current place until the house closes & we take possession. : (5 votes)
    20 %
  • Post # 3
    13081 posts
    Honey Beekeeper
    • Wedding: November 1999

    Tough one.  I don’t think I could personally handle living with my inlaws, but mold would make me leave pretty quickly too.  Is it black mold?  If it is, I’d leave, because that’s super dangerous…

    I’d be cautious with banking on the 90 days.  In my area, our real estate agent told us that less than 1% of short sale offers make it through settlement because the bank rejects it, or there is something really wrong in the inspection phase that the seller won’t/can’t fix…

    Good luck!

    Post # 4
    4495 posts
    Honey bee
    • Wedding: October 2013

    Ugh. Not ideal but you have to do what you have to do. Do you guys already have a house picked out that you’re buying? Is it pending? I would want some concrete plans, otherwise the ‘no end in sight’ feeling would be really hard for me.

    Post # 5
    84 posts
    Worker bee
    • Wedding: March 2014

    I w ould move to Mother-In-Law unit (mold is really not good for your health). will you be paying rent? I would pay rent for the Mother-In-Law unit but in return request privacy. your husband should be the one to speak to his mother about it.

    Post # 6
    2532 posts
    Sugar bee
    • Wedding: March 2014

    We’re moving in with his mom after our lease on this apt is up, but on purpose. We’re moving to the unused upstairs portion of her house. The only space we’ll need to share is the kitchen.
    There is no other way for us to save for a house in a shorter amount of time, and everyone we’ve talked to has agreed that it’s a good idea (though not the ideal living situation)

    It shouldn’t be too bad.

    Honestly, I think that having the ML suite is really going to help it not be so terrible, tense and tripping over each other etc.

    And you’ll be saving up TONS of money for future house repairs or essential items (you’ll need it!), while also reaping the health benefits of… not living with mold everywhere.

    [ETA] In terms of privacy, physical barriers work best. If there isn’t a door to the entrance to the suite, install one (ask first). We can’t install a door, but we sure as hell are putting a lock on our bedroom door at least (keeping all our valuables/sensitive info in there) and will be installing a “wall” of curtains at the top of the stairs, to open and close when we want.
    If you can’t install the door, install curtains – even if you have to put up a double row.
    At the very least, switch out the doorknob to the bedroom – even if you switch them back when you’re done.

    Post # 7
    7311 posts
    Busy Beekeeper
    • Wedding: October 2011 - Bed & Breakfast

    Short sales have a very low rate of successful closure. Honestly, the odds of a successfuul deal are not in your favor. I would not give up my current housing until I actually closed the deal and had keys in hand. FWIW, we had contracts accepted by the sellers on 2 different short sales. Both deals failed.

    Post # 8
    3755 posts
    Honey bee
    • Wedding: April 2014

    My sister and Brother-In-Law got kicked out of their apartment when their landlord found out they had put an offer in on a short sale. The short sale took forever and ultimately fell through. They moved back in with my parents and ended up building new. It worked out great for them and they saved a lot of money! Good luck!!!

    Post # 9
    8449 posts
    Bumble Beekeeper
    • Wedding: August 2012

    Does the Mother-In-Law unit have a kitchen and bathroom and such? If so, I think I’d suck it up and stay there. That’s a huge savings, and I would be totally freaked out by a mold problem.

    For what it’s worth, Father-In-Law short saled his house a few years ago and the bank took a low ball offer, and my brother just recently bought a short sale which the bank also took a low ball offer on. So it’s not unheard of.

    Post # 11
    3771 posts
    Honey bee
    • Wedding: December 1999

    I am usually do not like with your inlaws 90% of the time. Having a Mother-In-Law suite did make me pause on this one (I am assuming that you would have your own bathroom and kitchenette). I would stay 90 more days and decide from there. If a closing date is set at that point I would either stay or go to the in laws. It would suck to have to be packing and unpacking if the sale goes through.

    Post # 12
    107 posts
    Blushing bee
    • Wedding: November 2014

    I would move in with my in-laws but keep up with the house and rental search. The mold thing would scare me off…doesn’t seem to be worth my health.

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