Another Real Estate question

[Mr. Bloom]

I do believe you'll find difficulty locking a mortgage rate this far in advance...or the cost may be higher to do so.

However, the mortgage lender may still allow you to close earlier and have a rent arrangement with the seller keeping them in the house until June. You have ownership, they have occupancy. If you pursue this, you need to have terms of responsibility well defined: you insure the structure - but not their contents, they're responsible for damage they create, general liability issues should well defined, have the "rent" paid in advance from their net proceeds (don't let them simply reduce the price...the out of pocket impact to you is different - perhaps they can pay closing costs in lieu of rent??), etc. The situation will determine whether or not this is possible; the mortgage lending market is still puckered tight.

I'm in a similar position where I am about to market a property that I cannot sell before June 1 for tax reasons...this is my PLAN B is someone simply needs a place to be in before then...

Keep us posted