Tuesday, May 22, 2007

OK. I need your help in the good vibes department. According to my horoscope, the atmosphere is favorable, but I believe that the more good energy driven towards something, the better.
Overseas or interstate connections hold potential for the development of your financial position. This trend is accentuated favourably during May 23-26, with family or property ties involved.
As many of you know, my parents passed away last year, leaving me and my sister with the grievous task of tying up their loose ends (of which there are too many to mention). One of these ends is my Grandmother's house in southern Ohio. My parents had it as a rental property until mid-2005 when the renters, after 12 years, just up and moved out one day without much warning, leaving it vacant. I was supposed to take over the rental management but then everyone got sick, that got put on the back burner, and now it's part of the Estate.

Mother gave me a choice in the Will: choose one of the two houses for my primary residence, and the other would be sold to settle the estate, proceeds to be divided evenly between my sister and I. The clincher is that upon being sold, Sister gets cash in the equivalent of the appraisal of the house I chose to live in, then we split the profits (if any) after closing costs are paid. The choice was: do I keep my childhood home or the family farmhouse?

One might say, "farmhouse for sure", considering I have two horses. Yes, it has enough land for them (about 9 acres). Yes, it's rural. Yes, it's a beautiful spot. So desireable, in fact, that one person has called my Mother every month since Grandma died (that was 25 years ago) wanting to buy the place. Since Mother's death, I fielded enough new inquiries that I handed it over to the realtor. But the 1880's Victorian is very rundown. To the tune of $50k just to bring it back to "liveable" condition; more to restore it. Never mind clearing the pasture that's been allowed to grow into a mini-forest, or build a barn, put up fencing, and so on. Unless tonight's my lucky night and all five plus the bonus ball match the numbers on my MegaMillions ticket, I'm just not quite that financially flush to be able to do that.

Whereas, my childhood home is only 50 years old, great condition, good suburban neighborhood, near my alma mater, and it's where I grew up. Ironically, it appraised much lower than the rundown farm, but that area is booming right now. New construction in that area is very expensive.

The lawyer says the house MUST be sold to close the estate. So my sister and I are essentially business partners in real estate now. Today I'm meeting with him regarding the contracts. My sister is pushing for me to sign because there has already been an offer. Oh, do let's get over-anxious here. I don't buy the notion that it's *gasp* maybe the only offer we'll get so we'd better hurry up and take it! No. Here's what I see happening (and what I need energy directed towards):

  • We declare that only offers submitted after the house is officially on the market will be considered.
  • I believe that within a few days of this, we will receive several good offers all at once.
  • These offers will correspond to our unanimous understanding that it's not about the house (run down), it's about the value of the LAND it's sitting on.
  • We will contact all but the highest bidder and ask if they'd like to counter offer.
  • We'll let them fight it out. If everybody is so hot and snorty to buy this property as is, then let them prove it. (Apologies for the snarkiness.)
  • We'll accept the final offer before June 30, 2007.
  • I fully believe that the final winning offer after the others have dropped out will be well over the current asking price (which is also higher than the farmhouse's appraisal price), giving each of us an amazing profit.
So, go forth and energize with me. Much appreciation and gratitude in advance. :-)


At 8:16 PM, May 22, 2007, Blogger Sheepish Annie said...

I'm thinking every good thought I can think of for you! Here's hoping for a quick resolution and a tidy profit. I also think that ending this part of the process will bring some closure for you. Not that anyone ever gets past losing a parent. But I know that this has been a particularly sad and stressful time for you. Best of luck!

At 9:33 PM, May 22, 2007, Blogger Jeanne said...

Thanks, Sheepie! It IS hard. But, it's also a natural part of life.... one of the many challenges brought forth to help our souls evolve.

At 2:34 AM, May 23, 2007, Anonymous tiennie said...

Sending good vibes your way! Hope all goes well with the home sale.


Post a Comment

Links to this post:

Create a Link

<< Home