End of chapter, parents house is sold.
dedtired
15 days ago
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BLA - the final chapter
Comments (2)I'm a bit late at seeing this Audric but thanks for the update. It is indeed unbelievable that it was four years since you went up to take your passion seriously, seriously. I have no doubt that you will take your enthusiasm with you to any job that comes your way, the Tim Horton's gig might be a game changer as they say or it might just look good on your resume. You parents garden has certainly taken on a different look from the one you presented (jeez how many?) years ago. Bon chance Audric....See MoreTips for getting this house sold asap!
Comments (25)Wow! thanks for all this advice! sorry for the delayed reply, I was out of town and offline for the weekend. I made the trip to SC to help my mom with finalizing the finishes on their new home--and last night we met with two potential new agents, One of whom seems to be a perfect fit! They have one more interview set for tomorrow, and then will move forward with one. Unfortunately the prior agent seems to have a serious vendetta against my parents for pulling their listing from him. One of the agents last night let us know that he put a comment in the MLS (agent facing side) that said they were terrible clients to work with and going to be an impossible house to sell--when in reality he never marketed the home, listed it WAY too high initially despite my parents notions on where it should be priced(which is what it is now priced) and he never communicated with my parents unless they made contact. some serious professionalism is lacking there....I hope he has better luck elsewhere. Both agents last night felt like the current price was good and wanted a few small issues addressed in the house, but wanted to re-do listing description and photos to highlight the house better, so that they would be successful when marketing (more aggressively than the first agent--who apparently didnt do much) They did both suggest to offer closing costs or a reno rebate at closing for 10k or so as a buyers incentive. My parents are fine with that or simply another price drop. On the bright side- they still have a little more wiggle room in their budget to drop the price more if needed. Its currently at 375k and they would be fine with 350 bottom line. As far as the pool is concerned, new neighborhoods here have neighborhood pools, older neighborhoods don't in this area (and being a smaller town, there isn't a community pool to join), So it is not uncommon to have a private pool, even if it is only used 1/2 the year. One agent pointed out that this house would be the only house on the market with a pool in the school district. Speaking of schools though, I was mistaken on my prior post. They are in fact zoned for the newer/better schools. so that's great. While i'm glad to have the maintenance of a pool in my own yard, I can see both sides of this as a buyer. @izzymin- their wooded area is hard to tell fully from the photos above. their lot is .75acre, with only a portion (maybe .3 acre) of that fenced in the back yard. and another .2 front yard and the remaining .25 is wooded for privacy from the lot behind, which also has quite a bit of wooded area for privacy. The fenced in portion out back is cleared with exception of one beautiful double oak tree all the way in the back corner. The grass and landscaping back there grows well but does get leaves blowing over from neighbors tress and trees behind the fence line. The front yard is what has sunlight and water issues. The house sits up on a hill, so when it rains, water runs down the front yard and takes new grass with it. They have French drains, landscaping nets to try to hold the grass, but it all fails eventually in heavy rain. They do have the canopies raised every few years and it is just about that time again, but costs quite a bit to do as the trees are so tall, so i think they were hoping the house sold before they had to fork out the money for it again. The "protected" area thing is not uncommon here in the established neighborhoods. The new construction neighborhoods all got leveled and cleared totally though.. So on to a new agent, more aggressive marketing, probably another price drop, and finding the right buyer! thanks all!...See MoreConverting parents home into our own (style standoff)
Comments (105)I'm going to overlook all the relationship issues here, plenty of great advice has been given. I'll just give my 2 cents on the design aspect. Maybe his mother loves your style and that is part of why she wants the condo. Her lifestyle has changed over the years and maybe she doesn't know how to let go of some things but maybe she loves your style too. If that's the case, it might not be too insensitive to say you want to change the style of the new house. I would take the changes slowly, you don't want to trample on feet but as you remodel, you can always fall back on the idea that you want to change things before you start a family because you know once a baby is here not much else will get done for a while. This may be a more gentle way for his mother to accept the changes, and make her excited about being a grandmother one day. It might make it easier for her to let go knowing that broken furniture or lots of storage isn't safe for curious little ones. Good luck!...See MoreBuying a parent's home
Comments (19)From a math standpoint, assuming your mom wants to divide her estate equally among you: The house is worth $625K. That's $208K each. If you purchase it for $475K, that's a $150K discount. So when mom dies, you should get $150K less than each of your brothers does. If there is $500K in her estate, then you would get $66K, and they would each get $217K. The fairness concern might arise if there is a smaller amount left, say $200K. Then if your brothers each got $100K, you previously got $150K, so they might cry foul. If you want to complicate things in the name of fairness, mom could require that you pay the $150K into her estate upon her death, then the proceeds be split 3 ways. So if she has $500K left, you all split $650K (you net $66K as above). And if she has $200K left, you all split $350K. Which means you get $116K-150K, or in other words, you would pay your brothers $17K each. In my opinion, neither you nor your brothers should feel entitled to anything of mom's, or require her to be "fair." She doesn't have to split things equally upon her death, and she can give unequal gifts to her children while she is alive. You all should treat any inheritance as a happy surprise, and not get caught up in the equality or lack thereof. That's your best bet for ensuring your relationships with each other remain strong and healthy. And if it's really not the ideal house for you, buy something else. That will avoid any fighting....See MoreKitchenwitch111
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