What a Pride Buster - Page 2

novamc1 · ‎07-02-2015

Maybe something needs to be emphasized here that I mentioned in my earlier post........OP said house had been vacant for two years while owner was living elsewhere.

Be careful with that when it comes to homeowner insurance. As far as the insurance company probably knows and presumes, the house is owner-occupied and being maintained in a normal manner.

Now.........picture the insurance company's response if a fire breaks out, a broken pipe floods the house and no one is present to shut off the water supply, some silly kids or adults take advantage of and damage the property, or someone gets hurt on the property and seeks liability damages.

Vacant houses DO NOT take care of themselves.

I spent many years in real estate, handled many sales for deceased owners for their offspring, and I think I am giving some good advice to not put your parents--or your own potential inheritance--- at financial risk by hanging onto a house for years after no one lives in it.

Price it low. Enjoy the rush of offers you might receive, and get rid of this proverbial burdensome and expensive elephant in the room.

Mominohio · ‎08-08-2010

I'll add that if this is indeed a very upscale community, someone is going to jump on a much cheaper home (because of the needed updating) just to get in the area, then put money in and do it their way. There are a lot of people that will see this as a great opportunity to buy into an area they might not otherwise be able to afford.

RedTop · ‎09-01-2010

If it’s a solid built home in a good neighborhood, the right buyer will come along.

Imaoldhippie · ‎06-10-2015

Dont freak out over 1 comment. Some people dont want a fixer upper and others do. Rest easy and give it a chance.

LIFE IS TO SHORT TOO FOLD FITTED SHEETS

Sooner · ‎03-10-2010

Real Estate is too big a financial consideration to let your emotions get you. Figure up the costs to keep the house and what you might realistically sell it for and then make some decisions.

The last house we sold they cut off insurance at 1 year of unoccupancy and we had to scramble to get another insurance company. That's always a problem with unoccupied houses.

Q4u · ‎03-17-2010

My Mom and Dad's house was unlived in for nearly two years and the biggest thing I noticed is that an unoccupied house degrades in ways I didn't expect. I usually went every day to check things out, water and/or mow the lawn, wipe down the kitchen, etc. and (don't laugh) but the house seemed to like it. My husband and sons would also come on the weekends to nail/paint/fix whatever we thought might need it. It sold pretty quickly and were releived when it did so. It also needed updating but our price reflected that.

Good luck and please don't stress....

*~"Never eat more than you can lift......" Miss Piggy~*

novamc1 · ‎07-02-2015

I often think sellers overlook the opportunities they have to price low and ignite a bidding war on their property that can net them more money than so-called "market value" or "asking price".

People love a bargain. They can lose their heads in a bidding war over a bargain.

I love bidding wars, especially in real estate!!

LiveLaughLove · ‎08-18-2010

Bear in mind that oftentimes people will make that kind of comment hoping to "encourage" a rate reduction.

151949 · ‎03-09-2010

Most of what you are going to read on this board on this topic is based on opinions not facts. Don't make any decisions based on what you'll read here.

I agree with the person who said to just leave it in the realtor's hands, and try to stay as distant from it as possible. Sometimes the things people say on those feed backs are just cruel -we learned the hard way!

homedecor1 · ‎03-09-2010

@Mominohio wrote:
I'll add that if this is indeed a very upscale community, someone is going to jump on a much cheaper home (because of the needed updating) just to get in the area, then put money in and do it their way. There are a lot of people that will see this as a great opportunity to buy into an area they might not otherwise be able to afford.

@Mominohio

that is exactly what is happening in our community. It is a golf course country club over55 - many, including me loved the community but home prices are high (not including hoa, taxes, etc).

The last year many older residents have passed or went with family, etc. Many including me who bought here have said they were able to buy in here because got home at good price due to needing updates or estate motivated sales (kids sell as fast as parent moves/dies). (Many have not been updated & over 25 years old).