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tomatofreak

Flipping by default

tomatofreak
9 years ago

Help, help!! We bought a house while still living in the one we've been in since '86. Our initial enthusiasm has been dimmed (it's gone out) by the realization that 1) the house is bigger than we needed - or wanted - (4 br/2ba + living room, office and family room), 2) it needs way more work and money that we initially thought, 3) it has a huge pool (what **were** we thinking?!) and 4) not enough yard for our dogs and cats.

[Sidebar: If your realtor advises you to skip the home inspection, get another realtor! I can't believe she did this to us.]

The house was built in '66 and is a solid house with popular features of that era, e.g., slump block, low roof line, vinyl tile everywhere (covered later with 'sculptured' pile carpet), 4" tile tub and shower surrounds, underwhelming U-shaped kitchen with wall oven and cooktop, etc. etc..

We've taken up all the flooring; it's down to cement presently. The old black tile adhesive amazingly comes up with Citristrip degreaser.

I really need to save the filthy, grimy cabinets as new ones will blow up our small budget. The same Citristrip stuff seems to be doing the trick. My plan is to paint them. Inside and out.

I will be taking photos along the way for your consideration. Meantime, if you've been in this situation - needing champagne, having money for beer - please do pass along your recommendations. Where can I save most? What should I skip?

I have found so much good information on this forum, I can't believe I didn't find it long ago!

Thanks for any and all advice.

Comments (122)

  • tomatofreak
    Original Author
    9 years ago

    Ummmm, had not thought of that. I've been careful not to name names or specific locations. What should I worry about now?

  • nhb22
    9 years ago

    "Maybe I should call the sister who sold it? Good idea or bad? "

    Bad idea! You should stay out of it. If the 'buying' sister gets wind that you called her sister, all deals could be off. Let the realtor handle it.

    Did you buy the house directly from the other sister?

  • mdln
    9 years ago

    I'm with Lascatx, knowing you rescue dogs & cats would tell me you are the type of person I'd want to buy a house from. I prefer giving my money to good people.

    Good luck! Agree with other posters I'd edit your post and remove the locations of the houses.

  • tomatofreak
    Original Author
    9 years ago

    mdln, I've taken in two little dogs since this one, but they are both young and healthy. Here's the little budget-buster who was found by a passer-by, no less, who rang the doorbell to ask if that was my dog in the yard. Well, no; all our dogs live in a secure yard. Still, I had to investigate - and then get him to the vet. Broken leg, traumatized, signs of abuse and a wretched mess. You'd never know it now.

    This post was edited by tomatofreak on Sat, Jul 12, 14 at 18:12

  • mdln
    9 years ago

    Oh, poor little guy. He is so cute!!!

    The reson to edit: Do you want the sister to know what you are thinking? It really is a small world. Someone who knows someone, may recognize the story.

  • peony4
    9 years ago

    Until you know if the sister wants to buy it, stop all $pending on it. Don't invest another dollar or minute in it.

    If the sister wants to buy, then you have a means of getting out of this situation.

    If not, then I would simply demo it--remove flooring, cabs, and fixtures, and then sell "as is," as others have suggested. A demo'd, blank slate will appeal to a certain type of buyer.

    For goodness sake, don't spend any more time or money until you know what's going on.

  • nosoccermom
    9 years ago

    If you want to edit your posts, go to your posts. You'll see a little

    NEW! Edit Post

    on the top right. Click on it. You can then update your post.

    The reason is that you don't want potential buyers to know how desperate you are to get rid of the property.

    On another note, depending on your market, you may make good. Have you looked at how much a cleaned up, decluttered, and slightly updated, MOVE-IN READY, house would sell for in your area?

    I'm no flipper, but I bought a property, painted, CLEANED, fixed a few things (carpet, window), staged the place, and improved the price by 10%. Just by cleaning the place, I made several thousand.

    What exactly NEEDS to be done in the house in terms of non-visible, structural repairs (roof, foundation, floors, AC, windows)?

    What NEEDS to be done in terms of things that are visible and broken or nasty (appliances, carpet)

    What in terms of cosmetics (paint, declutter, clean...)?

    Look at redfin for your area to see what is on the market and what sold recently.

    Here is a link that might be useful: redfin link

  • tomatofreak
    Original Author
    9 years ago

    Oddly, there's a lot for sale in that zip code, but very little in the neighborhood. And what is, is not comparable.

    We have cleaned and cleaned and then some. By the time we're done, it's likely to be the cleanest house around. It has a crisp neat look from the front, but these people did not believe in trees or flowering plants.

    I'm going to take the next couple of days off and visit with family. Then, I think I'll start ID'ing busy realtors in the area and have 2 or 3 over for a look-see.

    Peony4, everything you've mentioned has been done. It is a stripped house. But like nosoccermom says, to sell on an open market, it may pay off to finish kitchen and baths, at the least.

    Many years ago we bought the house next door because we didn't want a crappy rental so close. We gutted and cleaned x10; it was a mess, too. It wasn't expensive and we had time to take time. It was a jewel when done and sold for many times over the price we paid. I'm quite certain that's not gonna happen this time.

  • Tmnca
    9 years ago

    Most mortgages won't lend for a house in demo'd or stripped-down condition (ie no cabinets, missing flooring etc), so you'll need to replace those items if selling to a non-cash buyer.

  • tomatofreak
    Original Author
    9 years ago

    tinan, that is precisely why we're trying to finish those essential things. The problem with that is that different lenders do not always require the same things, i.e., you might have a sink on one wall, a stove on another and no cabinets - or you might be required to have the entire kit and caboodle. Frustrating...

  • PhoneLady
    9 years ago

    Enjoy the family time, tomatofreak! We all gotta recharge the batteries from time to time. I guarantee it'll all be right there waiting for you.

  • tomatofreak
    Original Author
    9 years ago

    Sighhhhhh..... Murphy's Law rides again. My GD went into premature labor last night and none of us want to leave. I'm sure all will be OK, but sure as heck, if we left, she'd have the baby!

  • PhoneLady
    9 years ago

    Hope everyone is ok!

  • lascatx
    9 years ago

    Take care of you and family first.. Is she in another area?

    Sorry you have more drama added to your plate. I know you don't need it, but that's how life goes sometimes -- just heaping helpings of more than you thought you could deal with. But you can and will. Patience and perseverance will pay off. Hang in there,

    I went into preterm labor with my first son. They got everything calmed down and we eventually got to the point of considering inducing labor when he was 10 days past the due date. It can happen.

    I know you will want to be there if something changes, but it might help you not be more stressed or make them more stressed if you worked on the things you can control.

    Hang iin there. Wishing you and yours all the best.

  • tomatofreak
    Original Author
    9 years ago

    She's fine; thanks for asking. She spent about 4 hours in the hospital; nothing changed so they sent her home to rest. By the next morning, she felt well enough that she left for cool country where her wildlands firefighter hubby is stationed at this time! And I missed my trip altogether. :(

    I do have a diversion, though. I'm keeping her firstborn while she's gone and although he wears me out, he is the best company anyone could ask for.

    And hallelujah, the drywall guy is almost done! So much for the "it'll only take two days", but at least it looks good.

    I think I'll take a magazine with me and watch my little ray of sunshine bounce at the trampoline play house near me.

  • tomatofreak
    Original Author
    9 years ago

    Thinking positive, positive, positive, posi...... They've qualified and we've given them a price. Hoping this all comes together.

  • PhoneLady
    9 years ago

    Wow! Exciting developments!

  • julies_kitchen
    9 years ago

    Any news?

  • tomatofreak
    Original Author
    9 years ago

    WOO-HOO!! The last few days have been **very** exciting.

    On July 30, at about 6:30 in the morning, my granddaughter gave birth to a beautiful little girl - IN A MINIVAN IN A PARKING LOT!! Those of you local may have seen her on the news; every media outlet interviewed her and ran coverage. The story was also picked up by GMA, but I missed that one.

    Today, we got a firm 'as-is' offer in hand for the house! To say I am relieved is a super understatement. There is still much to do to finish before appraisal and I hope I can pull it all together in time. The kitchen is done except for countertop. All the floors have to be done and bedrooms and baths must be painted. I have appointments lined up for the next few days, hoping to find competent and affordable help.

    Cross your fingers for me and beam some positive thoughts my way. You've all been so supportive and I am so grateful for that.

  • lascatx
    9 years ago

    So glad to hear things are going well. Hope that all continues. I may have seen the news story you are talking about (dad delivering the baby?),but it didn't mean anything to me at the time. Congrats and good luck!

  • gyr_falcon
    9 years ago

    Congratulations! And congratulations! lol How exciting. Hope everything goes smoothly for the sale. You must be exhausted.

  • PhoneLady
    9 years ago

    Oh my heavens........THAT was your granddaughter??!! I saw it on the local news several times and thought they seemed like the most "roll with it" couple I'd ever seen considering what they'd just gone through. Well congratulations to all on the new addition.

    The house news is SOOOO exciting. I will definitely be beaming many good thoughts your way. And we'll all try to be patient for updates since you obviously have your hands full.

  • tomatofreak
    Original Author
    9 years ago

    Yes, indeed, daddy delivered the baby. He's a wildlands firefighter and he had taken an EMT class a few years ago. Still, he was much more rattled than he wanted to admit. I must say, though, that he was very composed and beamed through every interview. The baby is two weeks early, but thankfully doesn't need any paint or renovation!

  • sjhockeyfan325
    9 years ago

    The baby is two weeks early, but thankfully doesn't need any paint or renovation!

    Congratulations on both counts!

  • nosoccermom
    9 years ago

    Wow. Double congrats are in order! Love happy endings!

  • gsciencechick
    9 years ago

    Congrats on the new GD and the house sale!

  • lascatx
    9 years ago

    Well you all have a cool story to tell. And every mom has the "I carried you for nine monhs" but Daddy can join in and say "I brought you into this world..." LOL They will be doubly prepared for the teen (and other challenging) years.

    Look forward to hearing when the next chapter on your home's saga.

  • rockybird
    9 years ago

    Congratulations!!!! Terrific news! On the baby and house! I'm glad the baby, house, daughter and you are all doing well. :) Wow ... what a couple of stories to tell!

  • mdln
    9 years ago

    You are old enough to have a great-grandchild and be doing everything you are, I am impressed!

    Congratulations on both the happy events in your life.

  • lee676
    9 years ago

    Glad your GD took the minivan and not the convertible.....

  • tomatofreak
    Original Author
    9 years ago

    LOL, lee676!

  • outsideplaying_gw
    9 years ago

    Yay!! Congratulations on both the new great-grand-daughter and on the sale of your fixer! That's big news!

  • tomatofreak
    Original Author
    9 years ago

    Oh, my stars and garters, I may need a divorce attorney!! JK, but it is so difficult when your personality is AA on steroids and your partner's is a B- and a Gemini at that. It is *noon* and I just got him out of the house to go get baseboards, something he's known we need for, well... ever since we took 'em out. I pulled the trigger yesterday on tile; didn't even take him with me or we'd still be see-sawing. I'm sure this is all 'normal' - whatever normal is - so just see this as a stress-purging rant. This too shall pass, this too shall pass, this too.....

  • lascatx
    9 years ago

    LOL Yes, it will pass. And quicker if he can help get things done to get you to that finish line. I think there is something about the male chromosome that intensifies the procrastination gene. Just a theory.

    Hang in there!

  • sjhockeyfan325
    9 years ago

    My husband and son both have that disease!

  • tomatofreak
    Original Author
    9 years ago

    He's a competent man but just can't get to it..... I'm resorting to lists and saying "Do this first - now." I hired a tile installer and a painter today so that should get things moving along. And one room has baseboards! Yoo-hoo!

  • sjhockeyfan325
    9 years ago

    tomatofreak, that's why we hired a handyman, to do all the little things my DH could do, but it would take 5 years. Instead, it's taken 3 days (with about a day's worth of work left to do).

  • tomatofreak
    Original Author
    9 years ago

    I have also discovered (the hard way) that men - at least mine - have no sense of the time or money it will take for a task. When I hear "$50 and an hour", I automatically double the cost and forget the time estimate. It might be tomorrow or next year - or never....

  • sjhockeyfan325
    9 years ago

    With you on that too!

  • tomatofreak
    Original Author
    9 years ago

    Almost, almost to the end of this debacle. The appraiser was there today and I am praying to all the gods in the entire universe that he doesn't come in low. If he does, I'm not sure what we'll do; I think we'll lose money no matter what.

    This has been an ordeal I never want to repeat. The buyer's agent now wants to sell our house and help us find another. He remarked that, "Oh, you won't mind doing this again if it's for you!" I seriously wanted to break both his knees. If he shows me one - just one - house that needs renovation, we are done! I want to go into the next one with a suitcase and a toothbrush. Surely, someone can relate.

    This was the kitchen before.

  • tomatofreak
    Original Author
    9 years ago

    Here's the kitchen now. Floor is still covered with drop cloth; underneath is a calacatta pattern porcelain tile. Bedrooms are all carpeted. Bathrooms were not a total rip-out, but close; I left the original tile shower and tub surround.

  • lotteryticket
    9 years ago

    That's quite a transformation. Fingers crossed that the appraisal comes in OK. I hope you walk away at least even. Good luck!

  • gyr_falcon
    9 years ago

    You worked so hard on this house. Hope everything with the appraisal goes very smoothly for you and you are able to put this chapter into history. The kitchen turned out nice!

  • lascatx
    9 years ago

    I hope you have a pleasant surprise coming.

  • tomatofreak
    Original Author
    9 years ago

    lascatx, I hope so, too. Gonna be on pins and needles all weekend waiting for some word on Monday. And now the realtor says it might not close on time. :(

    Thanks to all who've taken this journey with me; I can use all the positive thoughts. :)

  • rockybird
    9 years ago

    Looks amazing! If you do use this buyer's realtor, I would stipulate that they give you a percentage of the commission off the new house. They will be making three sales related to you. This may help alleviate some of the loss.

  • tomatofreak
    Original Author
    9 years ago

    Thanks, rockybird; I'd never have thought of that. Such good advice here...

  • tomatofreak
    Original Author
    9 years ago

    Hallelujah, hallelujah!! It recorded today! TGINMA. (Thank Goodness It's Not Mine Anymore!) I don't know if I'm happy yet; I'm too exhausted to tell.

    Some of you know how frustrating last few weeks have been as I posted about all the delays over in the buying and selling forum. Things got so twisted and sideways, I wasn't sure if it ever would close. I am definitely NOT happy with the realtor; he kept promising to explain all the delays, but never did. As expected, we bled money on the deal. Not enough to require a transfusion, but enough to make me want to cry.

    When I recover (soon, I hope), I'll be focused once again on this house, the "one that Topsy built", the too-big house I want so badly to get out of. I'm going to make a huge effort to draw up a plan room by room - and hope we can stick to it. There are soooooo many things that need attention, paralysis by analysis sets in quickly if I'm not careful.

    I want to start with the kitchen and right now, I can't even see a beginning, much less an end. I think I will move upstairs and use that kitchen so I can take everything out of this one and strip it down to walls. We did things in the reno house that I'd like to do here - and we made mistakes I'd like *not* to do.

    A huge thank you to all of you who advised, encouraged and offered support as I struggled to hold on to a vestige of sanity. I actually got a t-shirt sometime during this misadventure that reads, "Some days it's not even worth chewing through the restraints"!

  • ghostlyvision
    9 years ago

    Congratulations! Sorry you took a loss on it but better to be done with it and save your energy for the abode you live in. :)

  • crl_
    9 years ago

    Glad it's over! We took a loss on our last house and were glad to get out of it--job transfer to the other coast--so I kind of know how you feel.

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