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Townhouse Won’t Sell |
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Mrs. Lank, My mother has Alzheimer’s, I have power of attorney. She is living with me now and her townhouse has been for sale since summer. Our real estate woman, I feel, hasn’t worked hard enough to sell the house. I let her know I wanted the house sold before winter. We are still having to pay homeowner dues, electricity and gas, besides going over there twice a week to make sure everything is okay. I have lowered the selling price twice. The value of the home is $160,000 and we have it listed at $165,000. Only one showing every two weeks. It’s in a new subdivision for seniors mostly. Are there any options we have to getting rid of this house? We don’t want to fool with it any longer. |
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I have to question one part of your letter. There’s no way you can know the “value of the home is $160,000.” Only one thing is certain: It’s not worth $165,000. If it were, someone would have come forward and offered that amount. The definition of market value is – roughly -- “what someone will pay.”
Assuming property is multiple-listed for a decent length of time, so that other local brokers and potential buyers can know about it, then the problem is almost always the asking price. No matter what else may be the trouble, anything will sell if the price is right.
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Edith
Originally published on December 6, 2006 |
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