Sales contract is now signed. My lawyer and the bank's assessor can still cancel the contract if they find something they can't approve but that's unlikely. Both parties can also cancel it within the next 2 weeks. So in less than 2 weeks this deal should be final.
I'm moving in March 1st 2021 (They're moving back into their other house that is currently rented to someone else. That's why it's not sooner)
So, you're going to own the house in the next couple weeks barring some unforeseen problem--------Do they plan on staying in the house and paying rent until your occupancy gets close in 2021, or are they moving back into their rental property, displacing the current tenants and the house you're buying sits idle for 6+ months????
Congratulations on making that step and I hope it all works out for you. It's been a LOOOONNNGGGG time coming.
My mortgage payments begins the first quarter after I take over the house. So that should be April 1st 2021. Until then my bank just guarantees that I will have a mortgage loan when the times comes. I'll have to put down 5% up front. So I'll just keep paying my apartment rent and be able to save up some money each month until the mortgage starts.They'll stay in the house until 2-4 weeks before I take over I imagine.