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The Kitchen Table

Mom's house

10 years ago

I have a post on the Buying and Selling forum about my Mom's house going on the market.

It was listed Thursday and went on the MLS.

Friday the sign went up.

Saturday 2 showings.

Sunday an offer, I countered, they accepted.

Now the inspection.

I know of 1 thing that doesn't work. Looked it up, $150 part, the pump up pump for the basement laundry tub. No big deal.

Kathy G in MI

Featured Answer

jemdandy

10 years ago

Housing inspectors largely look for structural and code items that require attention. They (and the lender) are concerned about the health of the building and not necessarily its contents. Code violations are prime targets. They'll examine entrances, railings, roof, gutters, electrical wiring, presence of termites, etc.

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Comments (12)

Elmer J Fudd
10 years ago
last modified: 10 years ago
If your mother lived there a long time, you can expect there will be more things found that need attention. It's normal.

Anytime a house gets snatched up quickly at or below the listing price, it's common to have thoughts that maybe the listing price was too low. It's too late anyway but remember that people who try to hold out for top dollar often wind up with no dollars. It's sold and you can keep the momentum going for consolidating your mother's affairs. Congrats.
kathyg_in_mi thanked Elmer J Fudd
marylmi
10 years ago
That is terrific Kathy!
kathyg_in_mi thanked marylmi
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Individuals' social security numbers are used for ID and processing for income tax purposes. An EIN serves as the equivalent of an SSN for federal tax purposes for "entities" - partnerships, corporations, estates, trusts, etc. etc. The page morz8 linked concerns small businesses only and when one needs an EIN - the answer is Yes if it a proprietorship that has employees or in all cases if it is an entity separate from the owner for income tax purposes. It's a federal thing, they're issued by the IRS. Some states use an entity's EIN for ID purposes, others have their own numbers for entity and/or payroll tax purposes. In the case of decedents, when financial assets (like bank accounts) change ownership from the individual to an estate or trust (which are entities distinct and separate from the individual), when new accounts are opened, when Estate Tax returns are filed, etc, etc. an EIN is required. The individual is gone and unless and until asset ownership is passed to an heir, the assets are owned by an estate or trust, they file income tax returns, and a number is needed.
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morz8 - Washington Coast
10 years ago
Kathy, I hope the inspection goes well. And remember, just because an inspector makes note of something, it doesn't mean you have to agree to fix, pay for, or update it. With Mom's house we remedied anything that might have prevented the buyers from getting prompt VA financing. And that meant replacing a section of siding in October, some day I'll tell you about my brother knocking himself out falling off the ladder and how I thought my world had ended that day ;) (he was OK, just very bruised and motivated then to lose 47 #s)

Other things that reflected the age of the house and fact that someone older had been living there many years...we just said No, not fixing or replacing. Always a gamble but it did work out and the sale proceeded. Full price less buyers closing costs.
kathyg_in_mi thanked morz8 - Washington Coast
OklaMoni
10 years ago
Kathy, I did NOT fix anything. Nor, did I agree to pay some of the buyers closing costs... and the sale went through anyway. Listed on May 7, closed on June 30.

I am "homeless". :) Not really, I live in Dales house now, in Florida. So far, so good.

Moni
kathyg_in_mi thanked OklaMoni
rob333 (zone 7b)
10 years ago
last modified: 10 years ago
Congratulations! Ditto everything snidely said.

Moni, You were smart not to fix anything since they either A) may not have wanted you to fix it (they might want to replace whatever it is you would've fixed, or B) they're going to find stuff anyhow. Glad you didn't expend energy doing that.

:)
kathyg_in_mi thanked rob333 (zone 7b)
sherwoodva
10 years ago
Congratulations, Kathy! Hope everything goes smoothly.
sjerin
10 years ago
Congratulations! Through a couple of personal experiences the last couple of years, I've noticed that a little way into the process the sellers (their agent encourages?) asks for several thousand dollars for repairs. It's disconcerting since you seem well along in the process so perhaps you should discuss with your agent now just what you're willing (or not) to give.
tami_ohio
10 years ago
Kathy, good news you have gotten an acceptable offer on your mom's house. I know this has been hard on you.

Moni, I missed seeing you had sold your house and moved!
Jasdip
10 years ago
That's great, for both Kathy and Moni! We're in a hot market here, houses are getting sold in days, with bidding wars.

Moni, best of luck in your new state in your new relationship!
kathyg_in_mi
Original Author
10 years ago
Inspection on the 14th. Mom lived there 52 years and really kept the house up well. Sure hope there are no surprises tho. Kathy G in MI
eld6161
10 years ago
If indeed you sold at a low price, stay firm. You can verbalize that the price reflects the possible repairs.
kathyg_in_mi thanked eld6161

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