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17 June 2014

Has anyone sold a home through HomeVestors? [More:]Continuing with our ongoing drama of getting my mom into a nursing home, we have begun the Medicaid spend-down, and part of that requires me to liquidate mom's properties.

The short story is that both places, but especially her condo, are dumps. The condo is simply unlivable without serious work being done, which is something we neither have time or money to do. Plus, homes on that side of Indy simply aren't selling. It's not exactly the best part of town.

I've toyed with the idea of contacting one of those "We buy homes" outfits that you see advertised on phone poles. One place that actually has a billboard up near mom's place is a group called HomeVestors. They say they buy properties "as is", which is really something we need. Again, I don't have the time or money to empty the condo. Everything would have to go to the landfill anyway.

Does anyone have any experience dealing with outfits like this? Mom still owes about $13,000 on the condo, and I really can't wait a year or more for the place to sell, as that will negatively affect Medicaid benefits.

I'm open to other options, of course. I've also toyed with the idea of contacting the mortgage company and telling them that mom can't continue making payments, and the condo is theirs. I'm not sure if that even possible to do, though.

Have you talked to a real estate agent yet?

It's probably worth getting the condo shown to as many investors as possible. If HomeVestors will do it, there are probably others that will too. Might as well sell to the highest bidder. An "as-is" listing won't be unusual. Find a real estate agent who works with investors.

Even if your sale isn't going to earn the agent a good fee, they might be interested in showing the condo to investors they know with the hope that they get the post-renovation listing too.

posted by mullacc 17 June | 12:11
As a matter of fact, I traded emails with a realtor my cousin recommended this afternoon, and he seems to think he has investors who would be able to take the condo off my hands. I hope to meet with him in a day or so.
posted by Thorzdad 17 June | 14:10
I hope that works out. I sold my falling apart house for more than I'd paid for it, but much less than if I'd tried to work with an agent.

It's good if there's nothing owing and you want out fast. If there's still money to pay off, I'd say try to find as many options as possible.
posted by lysdexic 20 June | 00:18
Quick question about || Let's talk kitchenware and hats.