In the first few parts of the series we went over how to either stay in your home during retirement, or possibly rent it out or even sell. Here are two stories of those who decided to sell and embark on their own individualized adventures.
The first...we just closed a transaction locally where the sellers were wanting to move to Washington. The husband loved to garden, yet had developed skin cancer and his wife wished for a less sunny location so he could still enjoy his hobby. They had lived in their home for nearly 40 years, and they had not done any remodeling even when they moved in nor since. Plus, over the years, their belongings had accumulated. Looking at the prospect of moving was daunting to say the least. They hoped we could sell first in its current condition, yet after many private showings potential buyers just weren't biting. The sellers decided since they would be moving anyway, they'd move first. It was arduous and involved packing help and many pods on site. However, it allowed us to set a budget together of fixing up and cleaning the property so that they'd get a more optimal sales price. Many of the vendors and contractors even agreed to take their payment after closing. After about $20,000 the house and grounds were ready for market. Through some unique marketing campaigns, we had 350 visitors come through the open house, got 21 offers, and we sold it for $300,000 over the asking price. This, when we had problems selling it to qualified buyers with private showings just a few weeks earlier. This real life story illustrates how sometimes setting a budget and having your Realtor coordinate contractors for marketing your home well can help you reach your goals.
The second...some sellers simply don't want to be bothered with the hassles of moving, fixing, budgeting, and waiting for the market process to take its course. And that's ok. We met with one retiree seller who pretty much said he'd love to just walk away, wave a magic wand, and have it be done. His plan was to move to the southeast US and find his new adventure. In the end, he elected not to use a Realtor and sell directly to a flipper. They handled the paperwork between them, and the flipper offered him what he wanted as far as terms - he was allowed take only what he wanted from the house and the flipper would haul away the rest. The flipper of course went on to fix up the home and garnered the profit. In this case, though, the seller didn't care about the extra profit; his goal was less stress and he achieved it.
And there are even different approaches than these two; the point is no one way is right or wrong, but it is important to define your goals and what's important to you... as you find your next adventure.
Read more of Kelsey Lane's Retiree Home Selling Series:
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