Inheriting a home that is in rough shape "What do you do? Who do you call?"
Today's blog post just an example of what kind of calls we field in a day. It is a success story about a caller that called used Google to find a local real estate agent who could sell their home fast in i Virginia. They called me last Saturday morning on July 25th 2015.
The phone rang and I answered. The person on the other line introduced himself and said I am in town to settle my Mom's estate. She past away two months ago and I am here emptying the house. But it is far worse than I thought and more than I can handle from so far away I think I need to talk to your about selling it.
I explained I had a cancellation and I could come over in the next morning. I did. Sure enough when I got to the home I could see why they might be overwhelmed. It is never easy to come to another state get a U-Haul Van and try to decide what's getting pack and what is getting pitched especially when you have no clue on what to do next.
"This family needed a road map to follow."
At this point it is not about getting a new listing. It is about helping some folks who are "overwhelmed with a daunting process on a short time span"
First thing I do is look at the home. Access whether it can be emptied and sold "as is" or with a little cosmetic fix up can it be sold for higher. This home needed a lot of work. The deck was shot, there was wood rot, it was extremely dated. But the silver lining was all the systems in the house were new. The furnace, the AC Unit, the kitchen cabinets and counters, the appliances, the toilets, vanities and roof. But the walls, the flooring, the stair hand rails, lighting was in rough shape.
If this family had $25,000 to fix up the house they could sell the home for top dollar. But they did not have the resources for something like that. Nor did they have the time. They fell into the trap of calling one of those signs they see on the street that says "We'll buy ugly homes in 7 days Cash" well those folks just tried to steal the house in my opinion. They offered them $170,000. Seriously.Average homes in the neighborhood sell for $300,000. This house needed about $25,000 maybe $35,000 to totally transform it.
So I gave him some options:
- Sell it to the investor for $170,000
- Settle the estate with the county, refinance the house and pull out the cash you need to get it fixed up to sell and then sell it. You will get top $
- Interview some reputable investors who will buy your home CASH so that you can cash out, settle the estate and move on with your life.
They opted for the last option. Within 24 hours they interview a few investors, and ratified an offer to sell CASH on Wednesday of the following week. They received tens of thousands more just be calling a local real estate agent who could advise them.They are on there way back home to Alabama with a lot of memories and knowing they accomplished their goal. To settle their Mom's estate, empty the home and feel good about their decision.
Real estate agents are a wealth of knowledge. Don't be afraid to call a local real estate in a situation like this. There is no charge. Only if we list and sell the home.
This is the same if you are falling behind on mortgage payments, your loan is getting ready to go up and you do not know what to do. You may be facing a divorce or job loss or worse the bank is already calling you because your home is heading to foreclosure.
Pick up the phone and call for real estate help. I promise I will answer.
Listing Specialist For The Twins Selling Real Estate
Feel free to call me with any of your real estate questions.
"Our Goal is Your Goal!"
Twins Selling Real Estate EXIT Realty Associates 8998 C Lorton Station Blvd, Lorton Virginia 22079 Equal Housing Opportunity Call 703-851-3085