Selling Your Current Home and Buying in Leisure World

are you thinking about buying a home in Leisure World in Seal Beach California but you need to sell your house first to make it happen well today we're going to talk a little bit about the buying process and selling your home in order to make everything match up for a smooth transition in the Leisure World so stick around and we're going to get after it right now [Music] [Applause] [Applause] hi my name is Steve bz and I'm the broker owner of next home W realy and we get calls emails and texts every single day from people just like you looking to make their move into the area and we absolutely love it so whether it be 9 days or 90 days give me a call shoot me a text send me an email I'd love to help you make a smooth transition into the area a few weeks ago someone asked me about selling their home and moving in the Leisure World as a lot of you know the process to move into Leisure World usually takes about 45 days and the process of selling your house once it gets into escrow is going to take you about 30 days so how do you match those two up so let's talk a little bit about

the buying process in Leisure World so Leisure World is a stock Cooperative so basically what that means is you're actually buying a stock certificate in the corporation which is the Golden Rain foundation so it's the process to buy in there's a little bit different you have to qualify with the board you have to come in with all cash um you have to have interviews done and there are people moving in and out of there as a matter of fact Leisure World probably more homes are sold in Leisure World not probably definitely um every year than there are in all of s Beach um usually you know you'll see like 30 to 40 listings inside a Leisure World whereas outside of Leisure World might be 10 so you know and one of the reasons for that is because you can still buy and leure World starting in the high 200,000 uh but it's all cash so you know there are there actually is one um Mutual in there where you can uh get a a mortgage on a unit to live in there but for the most part leor is a cash Community okay because it's all cash because you have to get uh interviewed by the mutual director or the president of the mutual um

you know those take time to set up so when you go to put a a home on the market in Leisure World they do an inspection uh before it goes live uh before it's allowed to be put up for for sale um so that usually takes a little bit of time once you find an actual home that you want to purchase inside of world you have to submit your financial docks uh you know tax returns you have to uh provide proof of um age um and all that goes to um the the uh the Golden Rain foundation and then they determine based on which Mutual you're moving into because they all have slightly different requirements they determine whether or not you're qualified once you're qualified once they get that done and that could take like 10 days to do um outside of Leisure World or you know a standard home you should I I or a standard home I should say once you know once we go through you know a few weeks of that then they'll schedule a um they'll actually schedule you to come in and sit down face to face with the uh with you know the the the president of the mutual um they'll do like an interview with you to

kind of determine you know if if maybe you're a good fit for leer world you know that I haven't seen anybody get disqualified for that but I'm sure it's it happens um but that also takes time so if the if the president of the mutual is on vacation and they're gone for two weeks or three weeks you know you kind of have to wait until they come back in order for you to actually get to have that sit down meeting once that's done you know and you're qualified to move in um then you'll basically you know deposit your money into escrow escrow will you know do all the paperwork then you'll have to go down to Leisure World um to get the keys at the stock transfer office they'll sign they'll hand over the stock certificates to you give you a little briefing about Leisure World and then you're ready to move in but with that being said with that taking for 4 days and you have a house to sell outside of Leisure World that house outside of Leisure World will more than likely have closed already or you know be close to closing because in order to show that you have enough cash if you have to sell the house in order to

buy in Leisure World in order to show that you have enough cash we're going to have to submit to Leisure World that yes you are in escrow and here's what the proceeds from your or closing are going to be so they can use that to qualify you as far as you know having cash to purchase inside a leure world that's just one of the criteria so what you're going to want to do is you're going to want to have a an agent that understands buying in Leisure World and selling your house in order to buy in Leisure World so they're going to want to put your house on the market contingent upon you finding and closing on your replacement property make sure that language is in the contract because if it's not and you're on a 30-day escrow and you have to close and you haven't closed in Leisure World you got two weeks there that potentially two weeks or maybe longer before you can actually move into Leisure World so you're going to have to find a place to live now if you have family out in town um you know if you want to go on a monthlong cruise or whatever Ever After you sell your house you know that that's fine but

if you're trying to move from your house directly into Leisure World you want those to line up so you got you your your buy the buyer of your house is going to have to understand that we're not closing on your house that you're selling until the one in Leisure World is ready to go right because if you do close and you think well it's okay Leisure World's Gonna my my home and Leisure Ro is going to close in a week and all of a sudden you find out hey the uh the the you know the president of the mutual is on vacation and he's not going to be back for three weeks that that's going to cause a problem so in the contract that your realtor uh signs on the person that is buying your house and and again I wouldn't even start looking in Leisure World until you are in escrow on your house but you're going to want that in your contract saying that I am not moving my house is not going to close or it's going to close concurrently with my purchase in Leisure World it it it seems pretty simple and it is pretty simple if you go into it like that now what could happen you get find a

buyer on your house that also has to move on their house so now you're having to line all these sales up if that happens you have a little bit more hurdles to jump through but your your PL your contract on your your contract on your house needs to be concurrent with the close of the Leisure World property so if you have any questions again you know I'm I'm here for you give me a call shoot me a text send me an email I get calls and emails and texts every day from people looking to move into the area um if you need anything just reach out don't be afraid I'm here to help you out anytime if you want to take a look around in Leisure World if you want to look look at some units I'd be happy to help you and show you around but again any questions let me know