How to sell an inheritaed house?
September 6, 2010 8:24 AM Subscribe
What's the best way to get this 100-year-old house marketed and sold without it becoming the money pit first? Oh, and I'm 1,500 miles away.
posted by cyniczny to Home & Garden (9 answers total) 2 users marked this as a favorite
After my mom passed away in November, 2009, I inherited her house. The intention was to clear it out and put it on the market "as-is" since it had a lot of issues - from smoke/pet smells inside to various small issues due to the age and lack of maintenance over the past ten years. A deal fell through when the buyer asked for a lot of work I wasn't willing to do. Since the main issue appeared to be getting people past the smells, I decided to put new paint and flooring throughout and a new bathroom, plus fix up a few things here and there.
Now, I need to put it on the market again, but want to find the best approach since there are likely other issues that will come up - I've had a home inspection done and have spoken with two Realtors to get their opinions and all roads are leading to extensive work ahead. Although the house isn't perfect, it's better than some foreclosures I've seen and I want to find a happy medium to get this place sold, since I can't be there in person and trying to do this long-distance is a time-suck and frustrating!
The house is in Tacoma, Washington, so time is of the essence - if I don't get this place sold before winter, I'm doomed! It's a 1100 sq ft, two-story house with 3 bedrooms, 2 baths and a "shop/garage" outside - fully fenced in a mixed South End Tacoma neighborhood (meaning, some nice places, some dumps). There is a small mortgage on the house that I continue to pay and based on everything I've researched, I should be able to price/sell/net about $50K when done. I don't want to get rich, but I don't want to give the place away, so an "investor buyer" option doesn't appear to be likely.
So ... hints, tips, suggestions, recommendations on how to proceed would be fantastic! I'm in the process of finding a new Realtor to list the place and will certainly work with them, but so far, the two I've had just haven't been a right fit.