One of our members is planning on selling the house he owns and moving out of the area. He would like to rent for a time, while he figures out the exact area and house he'd like to purchase. This brings up the problem of leaving in between leases. It was suggested that you look at the terms of a lease and the terms of breaking the lease early. Depending on the landlord, you may be able to work something out where you forego a security deposit, or something less painful than being on the hook for the rest of the lease until the landlord finds a new renter, rest of the lease, etc. You may even be able to sub lease from someone else who is basically in your position. It's a whole thing.
Another issue is figuring out what to ask for his current house. Sites like Zillow and Trulia give some estimates, but the county property appraiser site gives information about actual sales in the area. From that, you can look at the price per square feet of these houses and figure out what you can maybe perhaps expect to get. As with anything, it's a guessing game and contingent on a lot of factors (condition, features, etc.). He's probably going to go with a realtor as well, so he can expect to pay out a 3% commission on the sale, which seems worth it for the hassles.
The good news is there is not a specific time table for the move, since it's essentially an in-the-area move and everyone's jobs will be the same. This means wise decision can be mulled over and made. But that also is a bit a curse, too, since it could lead to a little bit of decision paralysis.
Looks like it's time to start getting rid of that garbage in the shed and painting the bathrooms a neutral color.
Of course it is also time for another buy, but that'll have to wait for another meeting.
Profit.
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