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I have posted before on a related topic (sale or rental of our condo) and found the Fools feedback to be intelligent and oh so helpful. Here I am again and looking for any stories, advice, feedback (good or bad), etc., from anyone who has been in a similar situation.

We are a financially conservative couple who purchased a condo in 2003 which was well within our means. We are now relocating from a trendy, young area to one that is more family friendly.

We have had our condo listed since late winter 2011 and have received one offer but it was below our asking and we passed on it. We've had lots of interest in recent weeks but no offers. At the same time, we have found a home in the new area and have an offer on the table. It's definitely a fixer. The home is priced just slightly higher than what our condo is listed for.

This is all about timing. We fear buying without having sold but equally fear selling without having lined up our next place. Who wants to miss out on these rates? However, buying this home without having sold our condo will seriously deplete our ER fund.

This is one time that this risk averse girl is taking a flyer. Am I nuts? Have any of you made the same kind of leap? Or, do you just have any REO advice to share?

I'm all ears.
Thank you in advance.
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