Expert: Karyn Foley - 5/23/2008

Question
My dad died in February and left us his house. It is in Dayton ohio and not in a very good neighborhood, although it is not "ghetto" type. His house is 55 years old needs a little work, you know how old peoples houses get that "tired feelng" anyways we don't know wether to fix it up to sell, sell as is, sell as fix it upper or what. We need to sell it not out of financial need but we are paying utilities, insurance  etc, we have to cut grass and then worry about it getting broken into. we are just stymied what to do..thanks

Answer
Dear Kurt:
 Sorry to hear that your dad died.  With reference to his house, my first suggestion would be for all the heirs to get together and pick one of you to be "point man" and to have power of attorney to make the decision on any and all offers that may come through.  It becomes problematic to deal with multiple sellers, and buyers get weary of having several decision makers that take up a lot of time to come up with an answer.
 Think about getting a pre-listing home inspection.  Then, when you sell the property in its present condition, some calling it "as is", then you can make the necessary disclosures to the potential buyer and stay out of trouble yourself.  Now, the buyer may make some requests to have you fix things, but that is your option.  It is a good idea to handle items beforehand that have to do with health and safety defects, should the buyer have a situation in the future you should not be held accountable if it is fixed prior to purchase.
 You can never second guess what a buyer will like.  A fresh coat of exterior paint in a color that matches the neighborhood is always a good idea, and perhaps go over the interior with a neutral color.  Upgrading and decorating can be a waste of your time and money, unless you happen to hit about a buyer who loves everything you did - which is unlikely.
 Your agent should be able to drive by the house periodically making certain things are kept up, and checking the interior along with placing flyers and collecting the agents's cards.  You should also plan and driving by and checking it out also.  I cannot tell if you are living in the area or not.  If not, it is a good idea to make certain you hire an agent in that area for whom driving by is automatic not an inconvenience.
 This is a buyer's market, so make certain you price it so that it is the best house available for that neighborhood.  Also, get a good cleaning service, and make sure all debris is removed inside and out and it shows spotless.
 Good luck ! KARYN FOLEY
 Good luck, and let me know if I can answer any more questions.
KARYN FOLEY