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My mom's house
Old 04-08-2020, 05:18 AM
  #1

My stepfather is driving me crazy (he's 72). My mom passed away in February and her house is going on the market on Thursday. I’m just saying her house because it’s in her name. The house was in her name and I am the executor of the estate. When it sells, my brother and I get half and my stepfather gets the other half. The problem is that he wants to list the house for about $50,000 over what the realtor suggests . What she is suggesting is at the high end of the other comps. What he thinks it is worth is totally unrealistic and it is irrational.

He is mad and calling me ranting and raving about how he is the husband and he has no rights. He is also paranoid. I wish I could just not feel sorry for him because is he pretty much alone (due to his behaviour). He’s one of those people that can be a real jerk but he can do nice things too.

Hopefully, the listing will go through on Thursday and it will show him that what we are asking is the right price. I almost hope we don't get any interest at that price. That is the only way that he will ever "get it".


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Old 04-08-2020, 05:49 AM
  #2

As one who obsessively watches real estate shows on TV and reads local home listings at least 4x a week, it is my belief that we often overvalue our own home because we love it.

Youíre the executor. You and the realtor agree. Stick to your guns. And good luck.
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Old 04-08-2020, 05:56 AM
  #3

Thanks amiga! He doesnít love the house, he fought my mom on everything she did to try to improve it. I donít even think that itís greed. I think itís more that he just doesnít get it and wonít listen to people. I donít think Iíll answer the phone today .
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Old 04-08-2020, 05:58 AM
  #4

Another option...if you aren’t in a hurry to sell, list it at his price, with an understanding that if there are no offers within x amount of time, you will drop the price.

That strategy may or may not make him easier to deal with.
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Old 04-08-2020, 06:14 AM
  #5

I was thinking of the same strategy, lisa53. Just wondering...how will the real estate company show the house? Virtually?


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Old 04-08-2020, 06:22 AM
  #6

Iím thinking she will show it by social distancing. I know sheís hoping somebody from Toronto will see it and buy it sight unseen, she says thatís happened before. I think as a reputable realtor, sheís probably embarrassed to list it for the price he wants.
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Old 04-08-2020, 07:07 AM
  #7

I think it will be hard to find a person who is willing to buy a house without going into it. Also, many people who were planning to buy are dealing with uncertain employment.

Can you wait to sell it in a few months?
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We have the opposite problem.
Old 04-08-2020, 07:42 AM
  #8

My FIL passed away in December. MIL just wants the house out of her hair. She wants to live with her kids forever, and wants to keep all the ďstuffĒ thatís in her house. She has a large, beautiful brick home on 15 acres that she wants to sell for $200,000. Itís worth twice that. Luckily DH and his sister have POA. She stayed with us for the last three weeks and spent much of the time trying to find stuff that belongs to me that we could get rid of to make room for her stuff. 🤪Gotta love her. Sheís a hoot.
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Real estate
Old 04-08-2020, 10:31 AM
  #9

The problem with listing it way too high and then dropping the price significantly is that buyers donít come back and people donít want to deal with someone who is that unrealistic.

My friend is a realtor and they are considered essential. They have several rules they have to follow for showing houses right now. And of course her number of showings is down even though she deals with more high end real estate. Only people that really need to buy are looking and only at houses that they are very serious about possibly buying.
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Old 04-08-2020, 10:46 AM
  #10

Quote:
I know she’s hoping somebody from Toronto will see it and buy it sight unseen, she says that’s happened before. I think as a reputable realtor, she’s probably embarrassed to list it for the price he wants.

It would be great if a T.O. buyer bought it sight unseen.
It happens.
T.O. buyers have really skewed the market in your area and my area.
As you know my home town is filled with retired people and B&B's. My current area is much the same --- highest percent/population of retirees in Ontario. Trust me, it is not retired local farmers buying $1M condos on The Bay.
A couple years ago Toronto realtors were bringing bus loads from T.O. They bought up most of the houses in a new development to be used as rental properties. Eventually to retire here, I guess.


It is easy to see why your step-dad can get fooled by the real estate hype and shows like Buy The View. Too bad he doesn't realize if the real estate agent thought she could get another $50,000, she would tell you to list it for that amount. The agent is working for herself, thru you. It is to her advantage to get the highest price possible.

Let the games begin.
Good luck!


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Old 04-08-2020, 11:08 AM
  #11

Well the real estate agent just came by my house (we stayed apart) because I had to sign something and apparently my step father is all calm now and the house is going on the market tomorrow for the suggested price. Thatís what he does, he rants and raves and gets everybody else upset and then heís fine later . Thatís why my mom never let him upset her!
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Old 04-08-2020, 11:31 AM
  #12

Glad heís being more reasonable! I think the realtor is the person with the best sense of what a home is worth.
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Old 04-08-2020, 04:26 PM
  #13

Itís sad enough selling my momís house, Iím glad heís more cooperative for now.
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