Need some compelling reasons to get my family to sell inherited house fast?
I’m ¼ owner on a house, and the other owners don’t get that it makes sense to price low and sell fast. The home is owned free and clear. It’s in a small town, where demand for homes is exceptionally low and there are always plenty for sale. This house is tiny compared to others in town, and while livable, it needs major updates. At best, I think we can sell this house for $40,000 and that’s if we’re willing to wait years for that one right buyer.
I’ve already brought up the obvious: vacant houses are hard to insure, other homes in town aren’t selling no matter the price, costs of property taxes and propane to keep the pipes from freezing in the winter, and the liability if someone gets hurt on our property.
Any other suggestions? I’d like to keep the language as simple as possible. Other owners have a limited familiarity with the real estate; at least a couple of them think it’s a good idea to overprice the home and then drop it later if needed. *head slap*
One in the hand is worth two in the bush. I want whatever paltry amount we can get now rather than waiting years for a buyer for what might end up being a couple grand per owner extra. To me, it’s just not worth it because there’s always that chance (and in this town it’s fairly likely) that we’ll never sell the house.
Also of consideration, the owners received decent cash inheritances. Whatever we make from the sale of this house is simply icing on the cake so it’s not like anyone here can whine that $2-3K makes a huge difference in their lives.
I realized this probably isn’t clear…the other owners are caught up in this idea that the home is worth a certain amount just because they arbitrarily think it is. The data in the area simply doesn’t back it up, and I’m having trouble getting these people to see that what they think the home is worth is meaningless. All that matters is what someone is willing and able to pay.
Repossession
