dcsimg

House next door for sale... what should I do?

A meeting place for regulars to discuss the lighter side of old-houses.

Moderators: oldhouse, TinaB, Don M, Schag

Re: House next door for sale... what should I do?

Postby mrstan on Fri Nov 18, 2011 8:48 am

Have to be careful that you aren't dumping cash into something that you don't own, or have no vested interest in. Land contract you own it - The way a well structured rent-to-own or lease option should be executed is that there is a deed change to add the buying party so they have ownership right, as well as receive tax benefit.

Thats my opinion anyway. I sure wish I could get a property for $5k. I'd be all over it :shock:
-Stan
mrstan
 
Posts: 76
Joined: Thu Oct 27, 2011 7:54 pm
Location: Harrisburg, PA

Re: House next door for sale... what should I do?

Postby matt8667 on Sat Nov 19, 2011 12:43 pm

tough call. You may only ever get one shot to own the place. I wouldnt do it if my current home was in any danger what so ever. I am not a big risk taker though, and the world is a little too unpredictable right now. Unless you could sell other land you had to buy something closer. Or you can buy it and for $50 and a case of beer i make something accidental due to faulty wiring,lol j/k
Image
matt8667
 
Posts: 141
Joined: Fri Jan 08, 2010 8:17 pm
Location: York,PA

Re: House next door for sale... what should I do?

Postby Kansas. 1911. on Sat Nov 19, 2011 10:59 pm

double post
Last edited by Kansas. 1911. on Sat Nov 19, 2011 11:02 pm, edited 1 time in total.
American Foursquare with Prairie and Colonial Revival influences

ImageImage
Kansas. 1911.
 
Posts: 848
Joined: Sun Mar 22, 2009 4:56 pm
Location: Junction City

Re: House next door for sale... what should I do?

Postby Kansas. 1911. on Sat Nov 19, 2011 11:01 pm

I'm interested in how this all shakes out also. Land is an appreciating asset. Dirt is considered a good investment. The house is both the good thing (barely liveable) and the bad thing (costs to fix; costs to raze). You would be buying privacy and peace of mind.

We needed a roof. Here's how I found some money. At 59 1/2 one can start accessing retirement funds, so that's what I did. Now I have a sweet roof going into our later years.

If you think about a Dart and some jewelry vs land and a house it seems that you could always get another Dart and some more jewelry.
American Foursquare with Prairie and Colonial Revival influences

ImageImage
Kansas. 1911.
 
Posts: 848
Joined: Sun Mar 22, 2009 4:56 pm
Location: Junction City

Re: House next door for sale... what should I do?

Postby angolito on Sun Nov 20, 2011 11:05 am

still trying to sell the dart. the pin is a little different since it is an old family piece.

its hard for me to even express how hard this reversal of "fortunes" has been. doing without more and more with no end in sight is a real bummer. i hate being "economically fragile". :evil:
Image
angolito
 
Posts: 3891
Joined: Sun Oct 08, 2006 7:57 am
Location: st. joseph MO

Re: House next door for sale... what should I do?

Postby melissakd on Sun Nov 20, 2011 3:02 pm

Sarah, I don't know the details of your situation, and I don't feel that I must, but I felt moved to blather away anyway as usual. :) I'll start by sharing a bit about myself.

I've been poor for most of my adult life, though I was brought up middle-class. Of course I hate it, but I have, let us say, developed a working relationship with it.

The early part of my marriage was spent living paycheck to paycheck. Awful. Awful.

I've been on welfare for years. My first trip to the welfare department office was very depressing (not least because the place couldn't have been more hideous. Run-down windowless cubicle farm in 1960s/70s industrial park). People who were brought up in poverty or who have been poor for a while are used to it, and I got used to it too.

I've had to get food from the food bank, which was incredibly humiliating, even after years on the dole. I cried.

These days I don't have a cent and am staying with my parents, who run the food pantry at our church. I help them 4 days a week, as business has boomed in the last few years.

From all that experience, I extract the following bromides and pick-me-ups:

1. Don't stress too much about it. (Of course I don't mean suppressing your feelings altogether.) Taking and receiving are part of the circle of life and if people are to give, someone must receive. All that matters is that you're not one of the greedy perpetual takers. My mother is a minister and really helped me with this.

2. Realize you *are* stressed and give yourself a little break here and there. For example, send postcards rather than full-dress Christmas cards---and DON'T feel guilty about it. People who know you and love you will understand, and those who don't can kiss your feet.

3. Get help *before* it's too late. Middle-class people are better at this than poor people, who frequently have to concentrate on surviving and aren't able to give themselves enough lead time to remedy a situation. (One of our clients, even though she qualified fair and square for food stamps, felt too proud to accept them until she lost her home. Pure silliness.) Call the electric company and tell them you'd like to arrange a payment plan, don't just omit paying the bill.

4. Pray. With or without this property, you will be okay: at the very least, you will not be alone in this world and will still have something resembling your wits :wink: . God listens patiently to requests, both reasonable and otherwise. I've left it up to Him all my life and He has taken the best care of me. Though horrendous things have happened, I've always had resources to deal with them, like now, when my parents are able to take me in. Here's the beauty part: That left my house available for another relative who needed a place larger than my parents' spare room. I could not have known that her situation would arise two months after I had moved in with my parents. I figure God must have been responsible. Cool, huh? :)

I hope this wasn't too much, or too much about me. I hope it helps.
MelissaKD
Last edited by melissakd on Mon Nov 21, 2011 3:50 pm, edited 1 time in total.
Image
The Thaddeus W. Bayless House
Built between July 1863 and January 1865, major add/reno between 1890 and 1902
Style = Mutt
melissakd
 
Posts: 3468
Joined: Sun Nov 11, 2007 4:29 pm
Location: Indiana

Re: House next door for sale... what should I do?

Postby mrstan on Sun Nov 20, 2011 11:19 pm

MelissaKD - heartwarming. Truly.

I will add something - I am a constant worrier - It's what I do. I've come to accept it. I tell you this, because when I am going through a bad situation I freak out - its what I do. Doesn't matter what it is - a bill to pay, unexpected car repair, something I have to do, and can't , I still freak out...all while knowing - it's going to be fine. Then, as expected (sometimes days, weeks, months or even years later) I look back on the situation that felt like a MOUNTAIN in my way, and realize - it made me who I am - and it really wasn't a big deal.
-Stan
mrstan
 
Posts: 76
Joined: Thu Oct 27, 2011 7:54 pm
Location: Harrisburg, PA

Re: House next door for sale... what should I do?

Postby Kansas. 1911. on Mon Nov 21, 2011 12:24 pm

And MelissaKD, on this forum, we are crazy about you. Glad you are here, typing away.
American Foursquare with Prairie and Colonial Revival influences

ImageImage
Kansas. 1911.
 
Posts: 848
Joined: Sun Mar 22, 2009 4:56 pm
Location: Junction City

Re: House next door for sale... what should I do?

Postby angolito on Mon Nov 21, 2011 10:28 pm

well crap i saw some people out in front w the owner today. not looking good, i know them and its a flipper/landlord situation.
Image
angolito
 
Posts: 3891
Joined: Sun Oct 08, 2006 7:57 am
Location: st. joseph MO

Re: House next door for sale... what should I do?

Postby melissakd on Tue Nov 22, 2011 9:47 pm

Might a relative of yours buy the family jewel from you? Or lend you its value, jewel to be returned when you pay off the loan? just another thought

Here's hoping the flipper decides it's not worth it---though I lost House Candidate #3 to an idiot jerk flipper

MKD
Image
The Thaddeus W. Bayless House
Built between July 1863 and January 1865, major add/reno between 1890 and 1902
Style = Mutt
melissakd
 
Posts: 3468
Joined: Sun Nov 11, 2007 4:29 pm
Location: Indiana

Previous

Return to The Hangout Forum

Who is online

Users browsing this forum: No registered users and 1 guest