How do I sell a house?

[omni550]

Still debating whether to replace the large front windows that are cracked and fogged up inside. Big expense, but it's a very visible window, first thing you see when you walk up to the house.

Some of these double-pane windows came with lifetime warranties. See if you can spot an installer or manufacturer's name/sticker on the track side of the frame, or embossed in the spacer between the 2 panes of glass. As the new owner of my current home I was able to transfer the warranty for $50 and get several fogged double-pane units replaced.


Depends on how the neighborhood is and how you plan on selling the house. Sounds like it needed work and you did some of the needed work. Not sure what it looks like now. ...a fixer-upper or move-in-ready? If it's more than a fixer-upper, and not in a neighborhood where it will sell in short order, and you can't get the windows replaced under warranty -- get a quote at least to see what kind of money it will take. Appearance from the street is often what sells the home to a prospective buyer.

-------

Just had another thought wrt the selling -- don't discount marketing the home to the neighbors (via word of mouth or flyers in their mailboxes) even before you list it with a realtor. Neighbors often might know of a friend or family member who'd like to move into their neighborhood.

omni

 

[mountainsoft]

That may not be as expensive as you think. It may be a simple remove the glass portion and replace. Or more expensive to replace the entire unit(frame + glass) plus maybe rot around the unit. I bet the neighbors are happy you are cleaning up

It's a house from the 70's with old aluminum windows. The living room window is an 8'x5' double slider. A replacement vinyl window of that size is about $900, not counting labor or trim materials. If we decide to replace it, we'll probably install two 4'x5' single hung windows instead. Slightly cheaper, and easier to transport to her house. Several other homes on the block have the same window arrangement. I estimated it would cost around $1000 to replace that front window, and a good weekend of work or more.

Of course, if I replace that window, the other two slider windows on the front of the house would look stupid still being aluminum with no trim. I suppose I could trim them out to make them match better, but they're not in the best shape either.

The whole house really needs new windows, but that's not a job I want to tackle just to sell the house. It also needs a new kitchen, and insulation (the house doesn't have any). At some point we just have to say good enough. If mom was moving home I would invest the time, otherwise it's not worth it to me. I just want to get the house safe and presentable again so we can sell it.

Yeah, the neighbors frequently stop by and tell us how much better the place is looking. It used to look like an abandoned drug house, now it's starting to look livable again.

 

[omni550]

mountainsoft,

If it's too much effort for you to replace it, you could write in the listing that you are including a $1000 (or whatever sum) allowance for replacement of fogged front window(s). This acknowledges that you know it/they need replacement. Depending on how cash-strapped the buyer is, they may actually prefer getting the cash at closing (to help pay for things they deem more critical) and delaying replacement of the window.

omni

 

[socca]

Both times I bought a house (early 90's, a few years ago) I bought a couple of books on home buying, and was glad I did. If you're new to the real estate game, picking up a book or two on selling could be useful.

 

[mountainsoft]

don't discount marketing the home to the neighbors (via word of mouth or flyers in their mailboxes) even before you list it with a realtor.

The neighbor next door mentioned he might be interested in buying the house if the price was right. He works in construction and has lots of "toys" he needs more space for. Of course, that was early on before we started fixing the place up and I'm not sure what his "right price" was.

Also, it comes back to determining a fair price and how to handle the legal and financial matters without a realtor. I am so used to doing everything in life myself, but this is one situation where I am really out of my comfort zone.

 

[OldShooter]

... Still debating whether to replace the large front windows that are cracked and fogged up inside. Big expense, but it's a very visible window, first thing you see when you walk up to the house.

You never get a second chance to make a good first impression.

Sorry to say, I think it's a no-brainer even though it's not a no-painer.

 

[harley]

With all the issues with the house, you might also consider selling it "As Is". I did that with my Mom's house after she died. It was in pretty rough shape, although she had tried to keep up with it. But there was a neighbor who wanted to buy it and I didn't want to deal with repairs and upgrades. So I sold at a good price for him and for me, walked away, and never looked back. If your Mom's house is as old as you say, there's a chance that whoever buys it will tear it down and rebuild. If so, all the repairs and improvements will be wasted time and money. You might want to talk to whoever your realtor turns out to be about what the best and most efficient way to market it would be. You never make your money back with repairs and such, so if you can avoid it, I would recommend doing so. Good luck.

 

[omni550]

The neighbor next door mentioned he might be interested in buying the house if the price was right. He works in construction and has lots of "toys" he needs more space for. Of course, that was early on before we started fixing the place up and I'm not sure what his "right price" was.

Also, it comes back to determining a fair price and how to handle the legal and financial matters without a realtor. I am so used to doing everything in life myself, but this is one situation where I am really out of my comfort zone.

Speaking to several realtors will get you informed on what would be a fair price.

There are lawyers who deal with real estate (Might even ask the realtors for recommendations). Find one local to the house and s/he will be able to guide you on what you need to do wrt legal paperwork and finances. Money well spent imho.

One caution -- a neighbor (knowing your situation) may want to low-ball you, but you're under no obligation to sell to them if you think you can get more on the open market. It will likely be a decision on how much more time, effort and $$ you want to put into it.

If you do sell "by owner", but feel that a local realtor helped you, I'm sure they'd appreciate a "token" of your appreciation.

omni

 

[Another Reader]

The neighbor next door mentioned he might be interested in buying the house if the price was right. He works in construction and has lots of "toys" he needs more space for. Of course, that was early on before we started fixing the place up and I'm not sure what his "right price" was.

Also, it comes back to determining a fair price and how to handle the legal and financial matters without a realtor. I am so used to doing everything in life myself, but this is one situation where I am really out of my comfort zone.

Depending on the property and the market, using an agent may result in a much better price and net, even after commission. DIY from two hours away may not be in your best interest.

 

[mountainsoft]

DIY from two hours away may not be in your best interest.

I wasn't planning to DIY the house sale. I'm too far away and don't know enough about the process.

I'm not too worried about getting top dollar for the house. We just need to sell it to help pay for mom's expenses, as well as eliminate the ongoing costs of owning the house even though no one is living there (property taxes, home insurance, utilities, etc.).

 

[ivinsfan]

I wasn't planning to DIY the house sale. I'm too far away and don't know enough about the process.

I'm not too worried about getting top dollar for the house. We just need to sell it to help pay for mom's expenses, as well as eliminate the ongoing costs of owning the house even though no one is living there (property taxes, home insurance, utilities, etc.).

If your mother needs long term care assistance in the next 5 years this transaction will be looked at...this could cause you trouble

 

[travelover]

If your mother needs long term care assistance in the next 5 years this transaction will be looked at...this could cause you trouble

Not if the proceeds of the sale remain with the mother.

 

[ivinsfan]

Not if the proceeds of the sale remain with the mother.

Not really they will check stuff and make sure her assets were protected, remember the son has POA so don't count on them not looking at all income and expenses in the preceding 5 years...

 

[Walt34]

Not really they will check stuff and make sure her assets were protected, remember the son has POA so don't count on them not looking at all income and expenses in the preceding 5 years...

He doesn't have to pull out all the stops to get top dollar. When we were dealing with selling FIL's house the elder law attorney said that even just selling it at auction "as is" (it needed quite a bit of work) would be a valid transaction as far as Medicaid was concerned.

 

[ivinsfan]

He doesn't have to pull out all the stops to get top dollar. When we were dealing with selling FIL's house the elder law attorney said that even just selling it at auction "as is" (it needed quite a bit of work) would be a valid transaction as far as Medicaid was concerned.

Right, the house is worth what's worth, but he would need to make an effort to get as close to that number as he can. Even if he just takes some pictures of the condition of the house before he sold it. The POA thing can make it a little tricker.

 

[mountainsoft]

If your mother needs long term care assistance in the next 5 years this transaction will be looked at...this could cause you trouble

In what way? I know medicaid looks back at asset spending over the previous five years, but this is not a gift to me or anyone else. The proceeds from the sale of mom's house will go in mom's account and will be spent on mom's expenses. What difference would it make how much we get for the house? I can't get anymore than someone is willing to pay for it.

Also, if her spending stays fairly steady, she should be able to live 6-7 years on her savings and social security before she'll need to apply for medicaid.

 

[travelover]

In what way? I know medicaid looks back at asset spending over the previous five years, but this is not a gift to me or anyone else. The proceeds from the sale of mom's house will go in mom's account and will be spent on mom's expenses. What difference would it make how much we get for the house? I can't get anymore than someone is willing to pay for it.

Also, if her spending stays fairly steady, she should be able to live 6-7 years on her savings and social security before she'll need to apply for medicaid.

+1 I don't get the insinuation.

 

[mountainsoft]

the house is worth what's worth, but he would need to make an effort to get as close to that number as he can. Even if he just takes some pictures of the condition of the house before he sold it. The POA thing can make it a little tricker.

I guess I still don't see what difference my POA or the value of the house has. Her money is her money, I'm not receiving a dime of it and have records to prove it. Hopefully she'll live long enough to spend it all so I won't even receive an inheritance.

Obviously we want to get as much for the house as we can (that's why we're taking the time to fix it up), as it will allow her to live longer on her own savings. I just meant I'm not going to make extraordinary effort to squeeze every last dime from the place. I don't have the time, knowledge, or resources for that.

 

[ivinsfan]

In what way? I know medicaid looks back at asset spending over the previous five years, but this is not a gift to me or anyone else. The proceeds from the sale of mom's house will go in mom's account and will be spent on mom's expenses. What difference would it make how much we get for the house? I can't get anymore than someone is willing to pay for it.

Also, if her spending stays fairly steady, she should be able to live 6-7 years on her savings and social security before she'll need to apply for medicaid.

A POA for an elderly parent just means you have to keep track of everything...if your Mom needed Medicaid care they would just check her finances.Unfortunately situations can arise where money is diverted from an older frail person. You can protect you and your mom by keeping good records as things happen..think of it like keeping records for a possible taxaudit...it might not happen but records can't hurt. If the house sells for less then the neighborhood average just take pictures. I've been in that situation and documentation is your friend

 

[pb4uski]

+1 I don't get the insinuation.

+2 As long as there are no transfers of the mother's assets to her children I don't see any cause for concern.

 

[ivinsfan]

+1 I don't get the insinuation.

There isn't one,I am just recounting mine and another family members experience when you have a parents POA and have been handling their financial affairs..that may vary from state to state I don't know. My mil had dementia and I paid her bills for years before she went on Medicaid.I kept receipts for everything to show I wasn't buying things for myself or paying my bills with her money...it helps when there are siblings too.It's all in black and white.

 

[cliffn]

My mom had a stroke in May, so we've been busy making repairs to her house and trying to get it cleaned up so we can sell it. Unfortunately, I have never sold a house before so I have no idea what is involved. This is complicated by the fact that we live two hours away so I'm not there to handle things.

Sorry to hear about your challenges. I have cared for family who have had a stroke and subsequently sold their home - so I empathize.

I dropped you a private message. Hope I can be of help.