Home Selling in 80503>Question Details

Fishfullthin…, Home Seller in 80503

I have the agreement option to buy our 17yr house in disrepair on 5 acres from ex wife for 325k or put house on market for 90 days with 1st right of

Asked by Fishfullthinker, 80503 Sat Feb 11, 2012

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Hello, I am Barbara Longo with Metro Brokers/Longo Realty. I have an office in Boulder and live in Old Town Longmont. I believe the first thing you must do is try to separate your emotions from practical considerations. This is essentially a financial decision. In any case, it is inadvisable to list your home with a first right if your objective is to get the best price you can from the sale. It will probably limit showings. Before you make a decision call three real estate brokers and ask for a comparable analysis. There is no charge for this service and you will be able to evaluate the value of your home in current market conditions as well as the approximate time it will take to sell. From your zip code I think you are west of the city between Airport and US36. The price of homes in this area varies greatly. If you would like a market analysis from me I'd be happy to help.
1 vote Thank Flag Link Sun Feb 12, 2012
Hello Fishful,
I'm an established Longmont agent accepting listings. Give me a call and we can talk about what I can do in marketing your home. I'll provide you with a detailed analysis on your property and the comparable properties in your area. Please call 720 810 0683.

Look forward to speaking with you.

PML of Longmont
720 810 0683
0 votes Thank Flag Link Mon Feb 13, 2012
I am with PRUDENTIAL RElocation, would love the listing! Often deal with homes in disrepair.
0 votes Thank Flag Link Sat Feb 11, 2012
I would decide if you want the house or you want to sell it. I agree with Michael Santulli that putting the home on the market with 1st right of refusal probably isn't the best way to get buyers making offers
0 votes Thank Flag Link Sat Feb 11, 2012

The first thing you need to know to evaluate the situation is what is the house worth now - if it went on market now, in current condition, what is the value. There are several ways to get a market value, in Longmont - real estate agents are usually happy to send you information on recent sales so you can see for yourself what value might be, They answer those questions all the time, and would be happy to do an evaluation on price with little time/obligation on your part so I would start with that.

Once you know the value, then you can determine what is in your best interest and if you are even able to "purchase" the house under your 1st right. Also, just an FYI - if the house is listed as being under 1st right it may limit your showings and interested parties.

Ultimately, once you know value - if you wouldn't take that money and go purchase the house for yourself, you probably shouldn't purchase it just to hold on to it. Use the opportunity to start over and get something just for you that is perfect for your situation now.

So pick an agent in Longmont, of course I would be happy to help you. Feel free to drop me an email with address and house details and I'll be happy to advise.

Take Care - Good Luck!

Associate Broker
Wright Kingdom Real Estate
Web Reference: http://truelongmont.com
0 votes Thank Flag Link Sat Feb 11, 2012
OMG Call a REALTOR (someone) first. I am at 303-772-7997 Budget Realty Colorado Inc. Huge mistake to list it under first right of refusal, NO ONE will look at it. It is like haveing it say UNDER CONTRACT accepting back ups. Bad advice. As far as the other aspects Why the heck do you want a 325,000 in disreair house, with all those memories? I think it best to sell it and each of you move on, just split the profits or the losses and put the big boy pants on and deal with the situation you have at hand. It was what it was for a time (love/marrage) and now it is never going to be that again, move on my friend. Also FYI 90 days marketing time will not be sucessful unless you price 15 to 20% under appraised value as the 300K to 700k homes sales are very stagnet at the present time. If your in Colorado call me and i'll do my best to svae both your butts and get you closer to moving on to whatever life you wish to choose for yourselfes. Respectfully, Michael
0 votes Thank Flag Link Sat Feb 11, 2012
Not sure what the question is exactly, but I'd be happy to help in any way I can. I'm based out of Longmont, and I'm very familiar with the market there.

Web Reference: http://www.sallygrenier.com
0 votes Thank Flag Link Sat Feb 11, 2012
Hi Fishfullthinker:

It doesn't look like you finished your question here. Is the right of first refusal you seem to be mentioning to your benefit (or perhaps your ex-wife's). Do you want to keep the house or would you rather sell. Perhaps you can provide a little more information in an answer (comment) to this question?

Kind regards,
Ron Rovtar
Prudential Real Estate of the Rockies
Days: 303.981.1617
Evenings: 303.473.1926
0 votes Thank Flag Link Sat Feb 11, 2012
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