Ok, so we live in Tennessee. But, we just inherited a house in Michigan. It’s 10 hours away. Our plan was to basically move everything to Tennessee and store it and then sell it. The house still has a mortgage. But, we inherited also her savings and there’s more than enough in her savings to pay off the house. We’ve been advised not to pay off the house because we will get double taxed. But, there is a ton of stuff in this house. I’m here now. It costs me $170 a month for a storage unit. I already rented one. But, I’ll need at least 5 of them to store this whole house. That’s $850 a month for storage. If we have the storage units for a year, that’s $10,000. I said to my wife we should just have an estate sale. But, she’s worried that they’re going to take too much commission and we’ll basically get pennies on the dollar. I work from home. So, technically I can work from anywhere. I suggested I stay here and just slowly sell the stuff. One thing though, I’m not sure if I can, because it’s a retirement community. She’s worried about the extra expenses, utilities, etc. I’d probably need to get internet installed here so I can work. I might not be allowed to live here for any long period of time. But, if I do that, we’re paying mortgage payments. I’m paying interest on those payments. But, it’s the tail end of the mortgage, so the interest should be pretty low.
Would you sell in an estate sale and just get rid of it, or would you sell it slowly, researching everything and sell on ebay or wherever? Where would I even sell stuff for where people aren’t looking for a basement bargin? Everyone, of course, wants what you have for as little as possible.
Also, my wife wants to just sell the house as fast as possible. She wants to use one of those realtors that buy any house and the realtor themselves buy your house. I said to her well loose money because they’re going to charge for the convenience of us not having to do any showings and having a guaranteed sale. Right now people are overbidding on houses by like 100,000 or more in Tennessee. Not sure what it’s like here. But I doubt a realtor that is looking to turn it around and sell as a profit will offer $100,000 over asking price.