I had a relative pass away recently and now it’s the responsibility of me and my siblings as heirs of the estate, to tend the to house and make it as presentable as possible so that it can be sold for maximum value.
Only problem is that the house is an hour away from us and we barely have any time on our hands. The property is overgrown now, the grass hasn’t been cut this summer at all so now there are weeds in the backyard that are taller than me and the inside of the house needs to be emptied out basically completely.
The estate is a waterfront property with a two-story house, it was estimated to be around $450K if sold the way it is.
Would it be terrible if we sold it the way it is? Is working on it until it is completely “ready” to sell way better for the value? Who could I hire to do the work for me? (cutting grass and weeds, organizing belongings, throwing out junk, etc).
I’m not even a legal adult yet so this is a big responsibility to have for me, i don’t know where to start.
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At 17, you cannot legally sign contracts. (unless you are an emancipated person)
Who is the party responsible for the estate? If you go through probate, the court will assign a representative. If you hold the property in a trust, its the trustee.
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ik and its my older sibling but unfortunately he’s busier than i am so basically right now, its me telling him what papers to sign and what to provide for the work that I am doing on the place. just here for advice
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You need to weigh out the returns of selling it fixed up, vs the returns of selling it as is.
Selling it as is will usually mean a fire sale price, or at minimum, getting beat up on price. Buyers will want to be compensated not only for the expense of fixing it themselves, but the time and energy they have to put in to deal with it. This often means steep discounts.
If there is a bunch of equity in the property, is hiring all of the necessary work an option?
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it is definitely the option i’m leaning towards considering how horrible the place looks and is, but yea it makes sense to do the work for sure
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You can find an agent who will handle this stuff, it may cost you more commission and then you gotta pay the people as well.
What do you want an opinion of value how much you’re going to get if you sell it now versus if you clean it up to see if if it’s worth it
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Sounds like you need a real estate agent. They can handle everything - cleaning, repairs, staging, marketing. At 17, you shouldn’t be dealing with this alone. An agent will maximize value and guide you through the process. Get referrals from family/friends for a good local agent.
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Pay someone to clean up lawn- even if it is once right before you list it. There are companies that will handle estate sales- they inventory all the items in the home and try to sell them for you (they will take a % cut from sale). Hire a junk removal company to remove the trash items or rent a dumpster and set aside a weekend to clean it out. Interview and hire real estate agent. Sell it as is- I wouldn’t worry about any major fixes.
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Do you have a trusted older family member or good family friend that lives closer to the house?
Someone needs to keep up the home and check on it at least once a week.
You can hire gardeners and cleaners. There are estate sale services that can sell what they can then junk the rest, keeping a fee and/or percentage of sale proceeds.
You are very young to have to deal with this and you need some trusted allies to navigate it with you.
It’s always better to have a home as presentable as possible for sale. A experienced reputable realtor could help
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Yes i need help for sure, the estate sale service thing you mentioned i’ll do for sure, thank you
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There are companies such as Curbio.com which will fix up your house and then wait for the closing to get paid. You can try to contact them to see if they do work in your area. Definitely find a good realtor. You can check out the Nextdoor app in the home’s area for referrals.
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Hire an estate sale company for the stuff in the house and a landscaper to take care of the lawn- then see where you are at.
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