You are now seriously planning on moving.
You have interviewed several professional, credible and caring brokers (not necessarily your friend) to list your home, condo or coop, who will work with you in conjunction with searching out the most qualified, income and credit worthy purchaser who will get to the closing with the least amount of glitches.
You are told it should take approximately 45-60 days for the buyer to qualify for their mortgage and another two to three weeks to close or it might be 30-45 days to close, if not contingent on financing.
For your information, if you have an old home, I would suggest you hire your own licensed home inspector, for you to determine and ascertain in advance what things might be wrong with and right with your home — from termites, leaks in the attic or even things you can fix yourself or hire a contractor or handyman to do for you, so your home will be the best it can be within your budget.
You don’t want surprises when the buyer hires their inspector and you are dealt a one-two punch, when he or she finds defects that could possibly impact your sale or be renegotiated at a reduced price.
If you could have only known beforehand and remedied the issues, your current situation would have been different! Penny wise and pound foolish!
Spend a few dollars and be cognizant of the condition of your home. This is not necessary for a condo or coop, since the condo and coop corporation organization are responsible for everything inside your walls to the outside of the structure.
You have to now decide how much lead time you require to relocate to a new destination, especially, if you do not have anything planned.
As I mentioned in last week’s article, you should be visiting destinations whether It be in the U.S. or in a foreign country.
This should really be done at least one year in advance or with enough time in between the selling process, so you will keep your stress levels at a minimum and your timeline and plan in place.
Some things to contemplate when you do move are the following:
1. How far away from your grandchildren, family and friends are you willing to move?
2. How is the health care in the particular country you are considering moving to?
3. Are you going to still work full or part time and how is their economy, on the up or downward trend and are their jobs that will pay you what you may need to earn?
4. Are there cultural events and things for your enjoyment and leisure?
5. Will you assimilate into the local culture?
These are just a few of the questions you will want to ask yourself prior to planning your move.
U.S. News and World Report’s most recent article has 22 different scenarios of where to move when retiring based on income and many other variables, some being, “The best places to retire on $75 or $100 a day,” “Retire on Social Security alone,” “10 best places with the most retirees,” right up to “10 best places for the wealthiest retirees,”
The following link will provide you with an amazing amount of additional and diverse information that will aid you in your decision making: https://money.usnews.com/money/retirement/best-places-to-retire
The wealthiest retirees have a huge choice of where to relocate and some of the following places, as per Oct. 9 U.S. News and World Reports say are the following (I placed them in the order that I would prefer if I were moving out of the area):
2.Palm Beach, Fla.
3.Paradise Valley, Ariz.
5.Wolf Trap, Va.
6.Mercer Island, Wash.
10. Hinsdale, Ill.