Interesting. I don’t have another account with this national bank so maybe I’ll be allowed to keep it. I only want to keep it long enough to dole out the dollars, unless I can think of a reason to maintain it. I do have a credit card affiliated with this bank so maybe I’ll keep mom’s money there for a while. 
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We had a 70 year old house that was charming, but maybe not in the best condition. We interviewed real estate agents until we found one we could trust who did not immediately rattle off a list of “must do’s” and was positive about the house in its current condition. We paid for our own inspection and made that available to buyers and filled out the seller’s disclosure thoroughly and truthfully. Although we did not specifically list the house “as is”, we prioritized offers and really only considered the ones that required no contingencies, including an inspection or appraisal. We also prioritized buyers who would allow us to stay in the house rent free for 2 months after closing. In that seller’s market of 2 years ago we had several offers (mostly cash) to choose from. We de-cluttered, but not much else. I think a positive and skilled agent is key (and a skilled photographer). Don’t pick one who is busy pointing out every flaw from the beginning.
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Whatever you do, if you decide to sell it through a real estate agent, do NOT use an agent who is a friend. Every time I know somebody who’s used an agent who’s a friend or buddy of theirs, it doesn’t go well.
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Regarding “co-owned” accounts - maybe the terminology varies but is that the same as joint with right of survivorship? I was JTWROS on a couple of accounts with my mother, and when she died they went directly to me, the survivor, not to the estate. I don’t think I even needed a death certificate, but I could be misremembering. I could write checks on them and close/ transfer to other accounts. But in my case things were simpler since I was both executor and only heir.
And regarding selling the house - it seemed much simpler for the estate to sell the house, with the proceeds going into the estate before the final distribution. Seems like that would be even more true if there were multiple heirs (assuming none of them wanted the property).
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I thought that I’d report back with what we’ve learned so far.
Full-time Realtor – wants to list it for $250k. He’s nuts.
Flipper/Realtor no. 1 – Flipped price 160k. If he lists it, he’d list it for $200k
Flipper/Realtor no. 2 – Flipped price 130k, if we leave all the junk in the house. If he lists it, he’d list it for $180k. Also nuts.
Opendoor – awaiting final number, after commission and repairs, but initial number is $223k.
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So do you think they are high or low??? Why the “nuts” ???
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Do you mind sharing why it’s not recommended to have a friend as a realtor?
I have a friend (not close, but we do lunch 2-3 times a year) and she seems very responsible and communicative when I see her listings and progress via social media.
Just curious. Not hiring a realtor anytime soon, but you peaked my curiosity.
Because 250k is way too high for this property and 130k is way too low.
ETA: If we were to list it, I’d list it at $200k and hope to get a bidding war going. It’s a nice corner lot. I am happy to net $60k as my third.
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Some friends and I were talking about this. We have many realtors in our social circle, but none were in this conversation. My takeaway was that the friendship muddies the professional relationship. One friend who moves every 5 years or so (her H is a GC, they make major improvements then move on and up) offered her opinion. They hired a friend once and said they won’t again. The hard conversations that inevitably come up (on either side) are difficult to have because of the friendship. For her, it soured the friendship.
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H sold his deceased father’s home as is. The realtor was H’s old high school friend who gave it to his daughter to sell. I think she was just wanting any money. The realtor recommended a low bid with her ‘comparison’. We looked it up on Zillow- much higher estimate. Started with that and got full price. I think we had a toilet fixed and that was it.
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We hired our friend’s father to do the inspection of the first house we bought decades ago, which was a big mistake. Which we learned a few months later when the roof was badly leaking indoors from melting snow. While I had a newborn.
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Update no. 2:
Opendoor came back with a final offer of less than $133k. Thanks, no thanks.
Now my brother reports that the neighbor may want to buy it. Fine with me!
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Yep. This is why I’d never hire a friend to be my real estate agent.
I’m sorry I’ve been AWOL from CC for awhile and never provided peanut gallery opinions. But, I’m dying to know how the final sale of the house worked out
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It hasn’t! 
My brother and sister wanted to list it a full $15k-$20k more than I wanted so I was outvoted. Mind you, that means the house was listed at $245k; it’s not a large or fancy home. We have reduced it $10k twice and nothing. No showings in the past week. Not a single offer, even a lowball offer. SIL wants to do what she’s wanted to do all along, and that’s rent it out for traveling nurses, etc. I just want out. If the AC goes out, etc., that will be on us.
I’m beyond irritated that we wasted summer months by pricing it too high. Maybe when interest rates go down, we’ll get a bite.
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Thanks for the update. It’s hard to sell a fixer upper because it reduces the buying pool. And I’ve learned that the majority of young people cannot fathom trying to renovate a house. They don’t even own a screwdriver. So that limits the buyer pool even more. Because of interest rates for young homeowners, there isn’t a large buyer pool right now
You have to price very low and start a frenzy. And hopefully the flippers like me will go into a bidding war. Honestly, there has to be about 30% margin to repair, upgrade, pay holding and selling costs and make a slim profit.
I would’ve listed it for $199,000. That pulls in the buyers in the lower range and then it brings a larger buyer pool.
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Ohh, and I forgot to mention that all buyers in your listing price range have already seen the house in the first two weeks, either online, drive by or through an open house or agent. So after that key period, you are sitting and waiting for any new potential buyer that wants your neighborhood, your configuration of beds/bath/sq ft, etc. one by one.
Well, that’s what I said. If we price it low and it’s really worth what my brother thinks it is, then we’ll be lots of higher offers. I think of my brother as competent, but he had stars in his eyes, and when the Realtor said $240k-$250k that’s what my brother wanted. I thought I had talked my sister into a lower price, but he must’ve gotten to her. It’s like my brother doesn’t even recognize why the Realtor would want to list it higher. 
Perhaps I missed it, but can you pay a Junk service to come and haul away everything, and then get a maid service for one day to come and clean the cobwebs, wipe the counters, et al.
I’d take it off the market while that was being completed, and then interview at least 3 RE agents. Just tell the agent that it will be as-is with no upgrades, unless they can assure you that any upgrade will result in a 5x return. Otherwise, not worth doing. (of course, they won’t be able to.) Then re-list for $199k. Unlikely that you’ll find a bidding war at that price point.
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