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Questions, preparing to sell

My mom owns my house so she has final say on how we sell it, but I would like to hear your guy's opinions on this or ideas.

We bought the house for $15k 10 years ago. It's in worse shape then when we bought it because a lot of long term issues have caught up to the house. At this point, it would need stripped to the studs or demolished. Bathroom alone is $10k in work.

My mom has spoken to a realtor off-handly who believes the house is worth 30k. My mom mentioned hoping for 60-70k. 1500 square feet, 0.38 acres, 3 bed, 1 bath, 2 story farm house, rural one light town, bad school district, decently priced taxes.

I have a friend who has offered to pay us $2k down, $800 a month with a written contract until an agreed upon amount has been reached. He knows what needs done, is fine with it, and is experienced. My mom has said this would be too much work, and that she rather try to sell the place outright, while I believe his deal sounds rather reasonable but I could just be naive.

I've seen houses in my area sit on the market for YEARS. If they're lucky, they get bought up and flipped into rentals.

This house is already deteriorating/leaking, so sitting on the market wouldn't do it any justice.

But I just don't know how buying and selling works or if getting a rent to own contract written up would be that hard/a bad idea?

submitted by /u/Baasicburner
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source https://www.reddit.com/r/RealEstate/comments/1jop18a/questions_preparing_to_sell/

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