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[Somertime]

@house_cat Some lenders/banks require a year wait before you can pay it off or there is a prepayment penalty.  It is important to find that out.  As Etoile mentioned, you can shop for no prepayment penalty.  Good Luck!  Enjoy the whole process!

[millieshops]

@house_cat Try Googling about construction loans or even bridge loans.  I've been out of real esate for too long and dealt too infrequently with clients who needed bridge loans to remember the details.  

Good luck with retirement and your new home.  Great adventures.

[Sooner]

If I didn't have tons of stuff to store, I would be tempted to move and rent until I sold or at least tested the market to be more certain of a sale of my old home.

Depends on the strength of the market where you are selling.  

[ScrapHappy]

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@house_cat wrote:

@ScrapHappy 

We're hoping to rid ourselves of the mortgage by moving to a place with a lower cost of living.  However, I understand what you're saying. If this house didn't sell we would have to mortgage the new home.... like I need reasons to lose sleep...

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It's nerve racking to say the least.  Not the way I wanted to do things.  At the time my husband had to start his job in January in GA and me and my daughter stayed in California so she can finish school year,  end of May.  He looked for homes in GA and I got the house ready for market.  It was a sellers market in GA at the time and houses were selling without ever been shown.  The bank went thru our finances with a fine tooth comb.  Even called our HOA.  Bank also "investigateed" our house...was it in a good.desirable area, what condition is it in, are we priced right or asking to much....it went on and on.  Thankfully we had a full price offer within 3 days of listing it.  I wish you all the best.