Determining Value

Homeseller Forum
1

I’m the executor of my grandmother’s estate (not one of the beneficiaries), and we’re looking at selling her house before distributing the estate to the beneficiaries.

My issue is there are some items on the house that should be fixed/repaired if looking to maximize the sale price, but the beneficiaries are debating whether to sell as is or how much to repair before selling. There’s also been some interest in the house based on its location, so we might have the opportunity to sell without listing with an agent.

My question is, what’s the most cost-effective way to get a value ‘as is’ versus what it would be worth if we fixed the issues before sale without listing it with an agent? The property is located in Nebraska.

2

Have a local appraiser give you an ‘as is’ and ‘as repaired’ value.

3

Are you looking for the most cost-effective way, or are you aiming to maximize the net value to the estate?

4

Honestly, this home isn’t a huge financial piece of the estate, so the beneficiaries want to weigh the trade-off between cost-effectiveness and putting money into it for maximum return.

5

Improvements rarely provide a dollar-for-dollar increase in value. It might be best for the estate to sell as is.

6

You can get price opinions from 2-5 agents without listing with them. Ask them what it’s worth as is, what to fix, and the estimated costs.

7

You need to decide based on time and convenience. Selling as is is quicker and easier but may yield a lower price.

8

Maybe someone should have helped grandma keep the house in shape. It seems strange to work on it after her death.