So, my dad passed away in July, and my mom inherited the house since they were separated but never officially divorced. I moved in to take care of my dad and spent a lot on renovations, thinking I’d be buying it and living there with him. Now that he’s gone, I don’t want to stay, and my mom can’t afford the mortgage (around $210k remaining), so I’ve been paying it.
I’ve already replaced a ton of appliances, fixed the furnace, and replaced the roof. The main house and rental unit are both filled with my dad’s stuff, which would cost thousands to clear out. Before all the work, a realtor estimated it at $450k, but I think it could go for $480-$490k now.
Considering repairs, staging, and closing fees might eat up $60k, a cash offer at $420k or $440k is looking tempting. It would be less of a headache, but I’m still unsure. Would love some insights on if I should just take the cash and move on or see it through for a traditional sale.
Honestly, ‘worth it’ and ‘cash for home’ don’t usually go hand in hand. Make sure you have a solid quote because sometimes they offer one price but lower it as the sale gets closer.
Micah said:
Honestly, ‘worth it’ and ‘cash for home’ don’t usually go hand in hand. Make sure you have a solid quote because sometimes they offer one price but lower it as the sale gets closer.
Good point. I’ve got quotes around $415k-$420k. I’m leaning towards trying to see it through, but it’s been such a stressful 6 months, so it’s tempting just to take the cash and be done.
Cash buyers typically offer 70-75% of the market value, so it sounds like you’ve already got a good deal. With all the repair and selling expenses, cash offers can be less of a hassle.
I’d say if you’ve done all that work, stick it out for a traditional sale. Sounds like you’re almost there, and it could mean a bigger payout for you and your mom.
The cash-for-home route is usually for people who need to sell fast, often for less money. If you’re not in a rush, maybe just get a good realtor to manage the headache stuff for you.
Not worth it if you ask me. If you’ve already done all that work, you’re nearly done. Might as well sell it the traditional way and get more for all your efforts.
Get a few more quotes from other cash buyers, and see if any can get closer to your $450k-$480k range. Sometimes it’s worth losing a little bit of cash to save yourself months of hassle.