YellowFever said:
Potsticker, first you gotta tell me just exactly where the best potsticker in town is. I love potstickers.
Next, it sounds like your destiny is sealed. Put your condo up for sale, then when it sells, move to the OC and just do short term rental or airbnb. Then qualify for the new home.
Or you could do what I do. Get married to increase your DTI substantially and so you can qualify like me and hold onto two additional homes while buying from IP. Right now IP/Wells Fargo is simply asking 30% down from me and they won't even care about the rental income and equity in my rentals.
In Irvine, I prefer 101 Noodle Express. Pork/shrimp pan-fried dumplings are good.
Wells Fargo actually pre-qualified me last week. They said that my DTI is fine with both my exit property and new property. They counted my annual bonus as additional income, which put me in the clear. DTI is in the low 40%. This gives me some flexibility as I can better time the move and rent my existing property if I elected to.
So, I put down a reservation check at Avalon this week. Their plan 1 made the most sense since I can qualify with both properties.
Also, let it be known that IP gave me a big fat "NO" when I asked about adding a contingency to the contract.