disneysteve
Thinks s/he gets paid by the post
- Joined
- Feb 10, 2021
- Messages
- 2,379
Mods, please move this if there's a better place for it.
The biggest single part of the estate that needed to be taken care of was the sale of the house. Early on, I had estimated it would sell for 425K and after expenses and such, I'd end up with 375K. I knew that was probably overly conservative but didn't want to count on funds that wouldn't materialize.
Once he passed, it became clear that the house should go for at least 450K so I'd walk away with 400K or so.
We ended up selling it for 485K to a cash buyer who was excluded from the realtor listing agreement meaning no 5% commission. Just a $1,200 flat fee to handle the paperwork.
Final settlement amount to me: $477,203.26. Way more than my estimate. I'm quite pleased with that. And it happened fast. We listed the house on 7/13 and it closed on 8/9. It's great when it's an as is, all cash transaction.
Between that and continued investment growth, we suddenly find our portfolio sitting at a bit over $3.1 million. Just 6 weeks ago I posted that we'd be at $2.9 million once everything settled.
I did give notice last week that I want to switch to part time at work. They haven't given me the effective date for that yet. It could be up to 120 days per my contract but it could be sooner. We are short staffed so I don't know if they'll let me out of the contract early but I'm fine either way. If it doesn't happen until the beginning of December, that's okay, though earlier would be better. At least I know it's happening no later than that.
The biggest single part of the estate that needed to be taken care of was the sale of the house. Early on, I had estimated it would sell for 425K and after expenses and such, I'd end up with 375K. I knew that was probably overly conservative but didn't want to count on funds that wouldn't materialize.
Once he passed, it became clear that the house should go for at least 450K so I'd walk away with 400K or so.
We ended up selling it for 485K to a cash buyer who was excluded from the realtor listing agreement meaning no 5% commission. Just a $1,200 flat fee to handle the paperwork.
Final settlement amount to me: $477,203.26. Way more than my estimate. I'm quite pleased with that. And it happened fast. We listed the house on 7/13 and it closed on 8/9. It's great when it's an as is, all cash transaction.
Between that and continued investment growth, we suddenly find our portfolio sitting at a bit over $3.1 million. Just 6 weeks ago I posted that we'd be at $2.9 million once everything settled.
I did give notice last week that I want to switch to part time at work. They haven't given me the effective date for that yet. It could be up to 120 days per my contract but it could be sooner. We are short staffed so I don't know if they'll let me out of the contract early but I'm fine either way. If it doesn't happen until the beginning of December, that's okay, though earlier would be better. At least I know it's happening no later than that.
