King Rat (gkr) wrote,
King Rat
gkr

House sold

I have a verbal agreement to sell my house, and the buyer has his financing put together.

I mail off the written agreement on Monday.

Closing should be in 2 or 3 weeks.

What can fuck this up now is if he changes his mind, or someone has made a claim against my title since I bought the place. Be odd if I didn't know about that. I doubt he'll change his mind given that he took out a second loan on his current house and a personal line of credit already. This way he does it without a mortgage, and technically will own the place free and clear with no encumbrances. So then he plans to take out an equity line of credit against my house and pay off the personal line of credit. All without an official mortgage. Pretty slick.

Tags: personal finance
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