Selling your Livonia estate home or Canton estate home may require some hard decisions to be made.
For example last week I put a Livonia estate home on the market. The home required major work. It required over $30,000 in repairs. So the heirs had to make a decision. They had to evaluate whether they would get any return on the money. You don't want to put in $30,000 when the house won't sell for $30,000 more than you can get for the home now.
Let's say you can get $40-45,000 for the home right now. If you put $30,000 into it can you get $70,000 to $75,000 for the Livonia home? In the case that I had I couldn't get more than $50,000 to $60,000 for the home in good shape. So it doesn't make sense to put any money into the home.
The next question is do you have the money to do the repairs? If you don't sell it as is.
If selling your Livonia estate home requires speed to get the money to the heirs quickly then you may not want to do repairs. Especially a major remodeling job. A $30,000 repair job may take months. So the question I have for you is: do you have the time to spend getting the home done. Do you have the time and energy to supervise the job.
So here are my tips for selling your Livonia estate home:
- Get comparables for the estate home "as is" or what it would sell for in great shape.
- Figure out what it would cost for the repairs.
- Think about the time committment
- Make a decision based on the return and your ability to get the job done.
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