On homes and real estate: What’s worth doing

Q. I am contemplating selling my home. I would like your opinion on whether I should have painting done, carpeting replaced and possibly new sliding glass doors installed before I put it up for sale. Otherwise, should I make allowances for buyers to do their own decorating? My colors are blue and white, which I love, but others may not.

A. From this distance I can’t determine the price range of your house or its present condition. You need local advice. It won’t cost anything to consult brokers who are active in your neighborhood. Feel free to call two or three nearby real estate companies, and ask if someone would come over to look at your place. A Realtor can tell you what’s worth doing and what isn’t.

Along the way, you may even meet the right person to help you market your house when you are ready. In any event, you won’t be under any obligation.

Q. I am in the process of purchasing a luxury home, and I need free legal consultation about some administrative law judge’s appeals. Amen!

A. Try someplace else.

Q. Is it possible to put my half of the house in trust for our son? After divorce, I own half the family home, and my then-ex-husband will not sell or deed his half to our son. Can I put my half in trust for him?

A. I suppose you can. As a divorcee, you must have your own attorney, and he or she is the person to consult on this.

My own guess is that it’s a bad idea. Sounds like you already have a complicated situation, and putting your interest in trust for your son could add more layers of legal tangles. That’s particularly true if your son is a minor.

Q. I have to place a value on a timeshare while qualifying for state-assisted Medicaid benefits. I have a timeshare that I paid $4,000 for several years ago, and I am selling it for $1,000. The state wants proof of what it is worth.

I maintain that it is worth what someone is willing to pay for it, which is $1,000. I feel lucky to get that much for it, as many people I know cannot get rid of their timeshares. The companies sometimes don’t even want the places signed back over to them.

Can you give me a general idea of how much timeshares are worth compared to their initial cost? And is it a general rule that they have little or no resale value?

A. How much something cost in the first place doesn’t matter. Think of a used car.

You’re right — market value is roughly defined as “what someone will pay.” If you’re really getting $1,000 in a firm deal, that’s what the place is worth. If you’re just offering it for $1,000, and no one’s buying, then it’s worth less than that.

The average timeshare resale value is for about one-third its of original cost. While some may hold or even gain value, the ones I hear about most often are those that can’t be sold at any price.

Q. We recently accepted an offer for our home. Three days later, the buyer’s agent notified our agent that a relative who was going to bestow gift money upon the couple toward the home had a “family emergency.” The agent said the couple didn’t know if they’d get the money.

They had already scheduled the home inspection, so I left with my three dogs for four hours, invading my parents’ home. Upon returning, I found the inspection had not occurred.

My agent has tried multiple times to get ahold of the other agent to find out what is going on but has not gotten any return calls. I am at a loss and am very frustrated. What can we do? My agent has already put the home back on the market.

A. If that was a binding written contract and if the buyers had put up an earnest money deposit, consult an attorney about whether you have any claim on that money. If it’s a small amount, you might take the buyers to small claims court.

In any event, get a written statement from those non-buyers releasing any claim on the property. However, if there’s no deposit involved (and sometimes even if there is), it’s usually best to simply forget the whole thing and just go forward with marketing your home.

Ÿ Edith Lank will respond to questions sent to her at 240 Hemingway Drive, Rochester, N.Y. 14620 (include a stamped return envelope), or readers may email her through askedith.com.

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