Sell The Family Home

This month I will start the process of selling my father's house. He has not lived in it since he moved into assisted living 2 years ago. At first he went home every week so he could check on things and so he could have a comfortable setting. He really struggled with the move to assisted living at first. Eventually he stop going home and stopped paying any bills so the house fell into disrepair and the utilities were turn off. After evaluating his finances, it turns out that taking money (for living expensed) from your 401K requires your to pay taxes but selling your home is a way to get tax free income. The problem is that the house is in such bad condition and I live in another state so fixing it up will be difficult. Removing the clutter is the first activity and then repairing some of the recent water damage while I try to bring the yard back to life. I will try to meet with a real estate broker in Atlanta to get feedback on what really needs to be fixed. Although I have successfully bought and sold several homes for profit, I am too close to this house to make a good decision about what is appealing to potential buyers.

I am also considering window replacement since some 0f the windows are rotten. This and a coat of paint will hopefully help it sell quickly. Since my father has the home paid off, all the income from the sale will go into savings and should keep him living in assisted living for several years with no worries.