by Hope
I need to make $6,000 in the next 5 weeks to be able to cover February and March bills. While I’ve got the work under contract, they are slow to get started and up and running. So I’ve only brought in a couple of hundred dollars each week this month thus far. (I received $195 last week from contract work.)
Thankfully, again, it’s just me. So I just need to keep my head down and work all the hours and projects I can. That’s the plan.
I still have plenty of food. All bills are current as of today. Filled up my gas tank today. And have no plans for any significant driving until I leave for Texas. Although I do have to drive two hours round trip in a couple of weeks to get my car serviced.
Now I sit tight and pray that the house sells. And I get even more work.
Work Plan
I am continuing to grow my contract business again. Without launching my new website (remember that debacle from earlier this month,) word of mouth is starting up again and I’m getting referral projects along with continued contracts from site like Upwork.
The corporate role that I had two interviews for seems to have petered out. No official word, but the silence has been deafening.
If the House doesn’t Sell
I am definitely leaving for another weeks long Texas trip in a few weeks. And a realtor will take over the house. I am negotiating that rate and terms later next week. Any guidance? I’m thinking 4% to be split between buyer/seller agent and a term of 3 months. I don’t think I want to live in limbo longer than that.
I realize that standard is 6% to split, but when I asked what they actually do for that amount of money, it seemed crazy to pay upwards of $9,000 from the proceeds of the sale for that. Especially if it sells really quickly. Which everyone believes that it will. I figured with the lower %, I would feel more comfortable “gifting” a monetary gratitude for a job well done versus feeling obligated and uncomfortable with the amount it was costing me. Does that make sense? Am I completely off?
And yes, I now the agent has to agree to my terms…so there’s that.
Clearing the House
The only furniture left in the house is my recliner, my bed, a plastic table that I’m using as a desk, and a dining room chair. (I’ll put the plastic table and chair in storage before I leave.) When the house sells and I know I will no longer be coming back, my recliner will go to storage and my bed will be disposed of.
My 10’x10′ storage unit is packed to the brim with furniture, items of sentimental value, and household goods.
My plan is to return from Texas in a few weeks, and live in the house until it sells. If it doesn’t sell by the term set, which I highly doubt, but it’s certainly a possibility, I will take that as a sign that I am not to sell it. And figure out what staying stuck here looks like.
I’m sure you can tell that I have my heart now set on being free of the responsibility. But this truly is a step out in faith. So if it doesn’t sell, I will take that as a very clear message that I am to sit down and stay still, here, and figure something else out.
Hope is a resourceful and solutions-driven business manager who has spent nearly two decades helping clients streamline their operations and grow their businesses through project management, digital marketing, and tech expertise. Recently transitioning from her role as a single mom of five foster/adoptive children to an empty nester, Hope is navigating the emotional and practical challenges of redefining her life while maintaining her determination to regain financial control and eliminate debt.
Living in a cozy small town in northeast Georgia with her three dogs, Hope cherishes the serenity of the mountains over the bustle of the beach. Though her kids are now finding their footing in the world—pursuing education, careers, and independence—she remains deeply committed to supporting them in this next chapter, even as she faces the bittersweet tug of letting go.
Since joining the Blogging Away Debt community in 2015, Hope has candidly shared her journey of financial ups and downs. Now, with a renewed focus and a clear path ahead, she’s ready to tackle her finances with the same passion and perseverance that she’s brought to her life and career. Through her writing, she continues to inspire others to confront their own financial challenges and strive for a brighter future.
notes-you definitely need to take better pictures of your home without clutter everywhere for your listing. Your realtor may be tied to requirements from her brokerage so may not be able to accept less than 3% to list your house. And a buyers broker is not going to show your house if it only includes 1% if that is the case. Just a heads up so you are forewarned on that. Did you not have this discussion with the realtor you chose earlier? Also, they are very unlikely to take a 3 month contract, simply because the amount of up front work they will need to do-clean, stage, professional photos, yard work, open houses, marketing, etc all has a cost and the ROI with only 3 months allowed in the contract is pretty low. If your house was going to go fast, you would have had hits and offers off Zillow already. Your current price is above market value for your home, especially with the amount of work it needs to make it livable to most first time buyers (assuming small children, etc).
No realtor yet. And yes, new pics are coming this week. Didn’t want to delay since I only had a few weeks that I was listing myself before I signed on with a realtor.
I am offering buyer agents 3% if I sell while FSBO. When I list with agent, they will have to split commission (standard operating procedure.)
Realtors do clean up, yardwork, etc? That’s news. I’ve paid for professional cleaning and yardwork in the last couple of weeks. There was no mention that they would cover that. If I hadn’t had to lay out the money for those items, I might not be balking at the 6% they want to charge for listing it on MLS and covering house showings while I’m in Texas. Etc. (I know they do some marketing, etc. and paperwork. But when I do the math $9K seems like a lot for that.)
A selling agent would not be charging 6% and/or $9k for your house. The standard charge would be 3%, which is about $6k if the house goes for what you’re asking for it, which it won’t. I don’t think you should sell though, so overall not paying a realtor is a better path forward!
Time for Princess to apply for a student loan ASAP!
And time to get the house listed on the MLS ASAP.
Also, I think it is penny wise, pound foolish to offer the realtors only 4% if you are looking to sell quickly for as much as possible.
Why would she need a loan now? She graduates in 2 1/2 months. Tuition and fees are paid.
I am not going to pay to list the house on MLS. If it is not sold before I list with a realtor, they will take care of that. I don’t want to pay for it twice.
Appreciate your opinion. Would have loved to see reasoning.
Why would she need a loan now? She graduates in 2 1/2 months. Tuition and fees are paid.
OMG Hope. Because as people have said a million times, it’s ridiculous for her financial in emergency territory mother to be paying half the rent when you HAVE NO MONEY and are selling a house to get rid of measly mortgage of 1,000.
First, I’m not selling the house to get rid of the mortgage. It’s so, so much more than that. Outside of being able to get out of debt very quickly. The house sale has very little to do with finances for me. I mean, debt free is huge. But that’s not the driver for this decision. Or the primary driver. It may be in the top 3.
Second, Princess bills are all paid. That is not in my monthly budget any longer. I planned for those beginning last spring, put that money away and gave it to her.
How am I in an emergency? I am making a choice. Not being forced to sell this house.
Your very first sentence says you need $6,000 in 5 weeks to cover your bills. How is that not an emergency? That implies you are out of money and work under contract not the same as a guaranteed paycheck. You have experience with clients leaving and/or paying you late. How much work are you going to be able to do while caretaking for your mother?
Yes, that’s how much I must earn in the next 6 weeks to cover my forecasted bills. How is that an emergency? Is $6K an unreasonable salary over a month and a half? I don’t believe it is.
Would I prefer to be living on last month’s pay, of course? Do I have that money coming in, already contracted? Yes. No where near an emergency. An emergency would be not having food in the house. Or needing that money to pay bills and no way to earn it. This is just a tight month.
I will complete all my work, full time work if I have it, while helping with my mom. The nice thing about what I do is that 90% of the time, I own my schedule. I can work early, late, etc. I have just at 3 hours of calls a week, but otherwise, I can work when and where I want to. So caretaking for my mom will not change that.
Regarding reason Princess should take out student loans: 3 months of your contribution to Princess rent is $2250. You don’t have that to contribute, so she should get the money from somewhere else.
Regarding MLS: I didn’t mean to imply that you shouldn’t sign a contract with a realtor ASAP. You should if you want to sell the house ASAP.
The plan has always been to go with a realtor when I leave town. I am counting down to that.
But of course, praying it sells before, so I don’t have to pay that $9-12K in fees.
According to the real estate ad for your house, you paid 100,000 for the house. Why would official records be different than the amount you think you paid?
That was the amount of the initial loan. The house price was $90K then we rolled in closing costs and any other fees outside of my down payment which was around $3K. The initial loan amount was right under $100K. I assume that is where that number is scraped from.
You’ll also notice that the records, before I updated them on Zillow, indicate that my house is a 2/1. It’s never been a 2/1. At least in my 8 years here. It was a 3/1 1/2 when we moved in. We converted the 1/2 bath to a full bath. The county records still show my house as a 2/1. So the automated value and comps are all wrong as well.
You paid $100k for the house. That’s what the official records say. The fact that you don’t know this is evidence that you need all the help from a realtor that you can get!
I have the paperwork, literally sitting next to me in a manilla envelope. You must just like to fight or pick at people.
The selling the price was $90K, I rolled all fees, closing costs, etc. into the loan, making it right about $100K.
The official records also say this is a 2 bedroom, 1 bath house…come on now.
Hope,
I don’t think you realize how much poverty mindset you have, and whatever issues you have that lead you to chaos.
For most people in their fifties, who read finance blogs, much less write for them, your financial situation is their worst nightmare.
I’m in your age group. I can’t even imagine being paycheck-to-paycheck now. Most financially stable people our age have a steady emergency fund sitting by, AT LEAST, and are not considering selling their only domicile to pay bills for stupid stuff.
I’ve never made half as much as you charge for your services, and I can’t imagine being in a position where I’m saying “oh will get contracts and should be able to pay bills this month.” I was freelance for 15 years, and I was NEVER comfortable without a giant cushion because that income ebbs and flows.
As a freelancer, I lived in Chicago in a studio for YEARS because, while my annual income could afford more, I based in on my lowest month. I ALWAYS put 38 percent in a fund that was for random sick days, canceled contracts and general instability of that income.
So… at less thatn 30 bucks an hour for a side hustle, and 15 an hour in my “love” job, I bought two condos. OUTRIGHT.My situation may be extreme that I pulled that off, but there is no doubt at your age, this is a emergency.
You have no emergency savings to cover at least three months. That IN ITSELF is an emergency. Like hair-on-fire, get your shit TOGETHER emergency.
It sounds like perhaps you rolled what are normally the sellers fees into the price you paid for your home when you purchased it. Is that what you are meaning to say? Hopefully you understand that whoever buys the home from you will almost certainly not do that.
Sellers fees? I rolled all my buyer fees into the loan. I didn’t pay the seller fees when I purchased it.
But yes, the purchase price was $90K and then I rolled all the closing costs, etc. into the loan. I’d have to go back and look to see what the original loan amount was. I just packed up that paperwork. But it was right around $100K. The purchase price was $90K, the loan amount was right at $100K.
Are you implying that your buyers fees were $13k? Because that doesn’t seem very likely.
Hope,
Nobody pays 10 percent in fees to buy a house. You know that you are saying it was 10 grand of fees on a 90 grand house?
That doesn’t happen, and I’ve bought 2 houses in HCOL places. You did something either you dont understand, or aren’t being honest about.
I’ll have to pull out the paperwork to get the details. But I have no reason to lie. Come on.
When you sell your house through a realtor and pay a commission, they are only getting a fractions of that.
First, there’s overhead. There are fees for using the MLS, their professional liability insurance, fees to the brokerage agency. Realtors are typically considered self-employed, so they have to pay the typical self-employment things—-taxes and health insurance (and unlike you, most people actually believe in regular preventative healthcare, and aren’t blind to the realities of aging and health.) They are only getting a fraction of that commission check. .
Then there’s what you’re getting from it. You are getting their experience and expertise. They are going to be the ones making sure all of the paperwork is to the bank/title company in a timely fashion, and is correct. Even if the first person who looks at your house buys it, there’s still all the paperwork and other legal requirements to make sure the sale is completed properly. They are going to know what forms you have to fill out, what disclosures have to be done, etc. It’s not just sticking a sign in a yard and showing people the house. They are helping you navigate legal transactions for the most expensive purchase or sale that most people will ever make. Messing that up can cost a LOT of money.
You can’t remember the purchase price of your house. You have no idea why your mortgage payment went up. You don’t know the most basic things about your home. You have no business NOT using a realtor. You’re going to screw it up and get sued.
I’m actually using the same lawyer that did the purchase of my house to make sure all the i’s and t’s are dotted and crossed. You are right, I could not do all that myself.
I really hope this cycle is the last time. How can you go to Texas when you don’t have your next almost two sets of bills covered? 🙁 I understand your need for adventure and not being tied down but to read this is kinda scary.
I must deliver a dog.
And my dad needs help with my mom. Over two years on hospice, it does not get easier on the family. The plan is to stay there for several weeks, or until close to closing date whichever comes first. Come back, do a final clean out of the house…and then the adventure begins.
And selling the house will be much smoother if me and the dogs aren’t here.
I am ready to pass on the burden of the house sell to an expert. Showing the house is stressful, especially with dogs living here. (I put them in my car during showings.)
All the spam messages and phone calls is insane.
Don’t travel while you don’t have money to pay your bills!
A $60-100 trip to Texas is not going to adversely affect my ability to make the money to pay my bills.
I’m not traveling for pleasure or spending money tooling around. I’m paying for gas to drive to Texas. I sleep in my car. I take my food.
You write like I’m planning a vacation.
Why must you deliver a dog now? Princess is still in her apartment (for which you are pretending you don’t pay the rent). Why now? If Gymnast is so bereft without his pit bull, why doesn’t he drive over and collect HIS dog?
I am sorry you are so angry. You must stay anonymous so you can be mean.
I have never denied paying my daughter’s rent and continuity help her, as I have done for all my children
And the reason to get Jake moved is that when my house sells and I move into my car, 3 dogs is too much. Getting Jake to his new home now, makes my next transition that much easier.
And Princess leaves in a few short months, if the dog is here, I must be ready to care for him again. It’s just the most logical move considering the big picture.
Please tell me me you are not paying your daughter’s rent? Does Princess not know how bad it is?
It has already been covered.
Looking at other 3 bedroom, 2 bath houses in your town, it is apparent that your house is significantly overpriced. Setting an appropriate price is something realtors can help with once you are under contract.
Interesting perspective. Of the 3 realtors who have run comps for me and advised me on pricing, I am spot on, on pricing with some room to negotiate. I’m in the middle of the top of the range for houses similar to mine. I do not expect a full price offer, but I did want to leave myself with comfortable room to provide concessions and negotiate. I don’t think what I’m asking and what I will end up getting are that far off (and neither do the realtors who have looked at the house and provided me with the stats of houses on the market and houses recently sold.)
So I took at look at comps. The other comps that show up on Zillow set your home price at 175-195 IF they were equal properties. The comp that puts you at $175K has 4 acres of property and the house is bigger and the comp that puts your house at $195K has an entirely new kitchen with granite and stainless steel appliances, and basically a full remodel. You cannot compare apples to oranges for price per sq foot. A newly remodeled home without past flooding issues will have a higher PPSF than a home that has not been traditionally updated (or without permits). So these comps would be significantly adjusted for those items before being used as a comp. I really want you to succeed but you get in your own way every time.
The comps provided by the realtors are from MLS.
As for flooding, my house has never flooded. Nor has the crawl space.
There is a culvert at the back with a pipe that runs that side of the yard, then under the street. It was damaged when we moved in, repaired by the city, and then we cleaned out the culvert last summer…
That was causing the water to back up and ‘flood’ the yard. Removing things like a trampoline and tires and all sorts of other trash from that culvert resolved the issue.
I have a hardline of what I am willing to accept for the house. I don’t have to sell. There are more times than not that I don’t want to sell. (And my house has all stainless steel appliances as well 😉
After two years of asking God for clear direction on what I’m to do with my life, this is a step. If it doesn’t sell, I stay. And figure it out.
Hope did you perhaps looked on Zillow about your home and flood. it says the house is under severe flood factor and insurance was critical. That sounds like chances of flooding is pretty high.
I actually saw that when I looked at the listing last night.
so when they looked at the comps, maybe they didn’t realize the flood standing. Another 3/2 house that looks comparable physically, but does NOT have high flood risk listed, is not a comp.
No one will buy the flood risk house over a similar house with no flood risk listed.
Whether you agree with that flood warning or not, it’s there, and people won’t want to mess with that when they can get a fully really remodeled house that doesn’t have it.
Do you currently have to carry a flood policy on your house? This can really affect insurance prices, even if you don’t think it will ever
…..so a realtor is okay when they’re giving you advice for free? I see, it’s just paying an independent contractor for their work that’s a problem. Interesting coming from an independent contractor.
I have experience in this field. I am in a very HCOL area, so there will be some differences. Your complete lack of understanding as to what a realtor does and how to best sell a house is going to come back and haunt you. Realtors (good ones) are sales people who A. Want you to sign a contract and B. Want to sell your house quickly for a realistic price. They do NOT want to take on a quirky over inflated home that will cost them time and money and they will get nothing return with a 3 month commitment only. They are agreeing with your numbers to appease you and get your business, then your house price will drop and drop. You have ONE chance to make a good impression with your curb appeal and home pictures. Your realtor would tell you to NEVER post those pictures. Ever. If someone you are considering using told you that was a good idea, don’t use them. You as a seller are responsible for your agent’s commission, not the buyers but you should offer one, it is no longer a required split. With the new NAR rules you can offer a commission to a buyer’s agent but they can also require it of their own client. You should look into your contracts you signed with buyers agents, they may lock you in for any sale you make during that time frame. You paid $100,000 for your house. It does not matter what fees etc are rolled into it, that is what you technically paid and it is public record. You can get credits for anything but the price you paid is the one on the public record. If the public record shows a 2/1, your work is likely not permitted. You may not be able to close without permitted work, they may require you to pull it all out. Anything with plumbing, electricity, moving a wall, drainage, sewer, etc like requires a permit. Your realtor should be staging your home (you pay out of home proceeds in lower priced homes, they may pay from their end in high end home), neatening your yard, mulching, maybe flowers, and doing basic fixes (they should have a handyman on payroll). They should give clear instructions to either have your home empty and totally clean or well furnished and clean. They should have cleaners they can recommend to do a thorough job for sale photos and showings. They also should have years of education, and have experience in your particular neighborhood, they hold insurance, they pay for marketing, open house supplies (fliers, QR code set up, treats, etc), they have to pay broker fees, etc. They should be helping you with all the disclosures and it looks like there will be a lot, such as the previous flooding, unpermitted kitchen etc. A good realtor is extremely worth it. Im really blown away by your comments. Not knowing where your next months money to pay your bottom line bills IS an emergency. Im beginning to see why you have never gotten out of debt after all this time. You think only not being able to feed your family is the only thing that constitutes a financial emergency. Not being able to pay your bills on month in advance IS a financial emergency-that needs to be foremost in your mind. There is a house that looks significantly more updated than yours that has sat on the market for some time at a similar price per foot. Im not trying to belittle your house in any way, but what you like is not going to attract most of the buyers out there, it is definitely going to be considered a contractors special for a redo and the price will need to reflect that. You will need to be under market versus over market. Please take some notes from your many commenters who know what they are doing and are offering you experience based advice.
This is a very LCOL area. Staging homes is not common practice here. Believe me, I asked. They all advised me to move out…which I have done. Leaving just the very, very basics should I return.
I never claimed to be an expert at this. If it doesn’t sell, I stay here. When the realtor takes over at the end of the month, they can do what they want/need. But I have been very clear with them that I am not 100% convinced I am to sell. This has been a hard fought decision just to get to this point.
This is literally just a step out in faith. Because I truly am directionless at this point.
Hope always believes she knows better than anyone else on any subject. She starts imagining how things should go and then is shocked, SHOCKED, when it doesn’t go her way because she ignores the excellent advice she gets for free.
Hope, I will be blunt: there are much much better houses than yours in your own town at your own price point. Your only hope for a quick sale, considering what a shambles it is, is to lower your price immediately. $175 sounds about right. Or you can get excited about the smoke blown up your ass by agents who don’t represent your property. Just as an FYI, no good agent is going to agree to the terms you think is fair. Only someone who is desperate would. Your kitchen is horrible and don’t pay attention to people who say it’s nice without any skin in the game. Your second bathroom is probably unpermitted and by the way, there’s something called a Certificate of Occupancy your buyers need to get a mortgage.
This is why you need a good real estate agent: BECAUSE YOU DON’T KNOW WHAT YOU ARE DOING. You have no idea. But yeah, keep ignoring the good advice you get because you always know better and then ask God in six months why you’re still in your house.
She needs $6000 in just a few weeks time to cover her most essential bills. She’s always one bad month away from disaster, and we’re back in a downswing. If it hasn’t sold in 6 months, I think the bank will be in the process of taking it.
A realtor taking over and you think you are going to negotiate terms. Good luck!!!! Just because you don’t agree with the amount of money and how it’s split doesn’t mean you get to decide how much you want to pay. Is that how it works when you go to an attorney? A restaurant? A business? You tell them the service, food, product is only worth so much? How many houses have you owned and sold? Right behind adopting all the pets you have and rehomed or got rid of by other means, this negotiating terms with a real estate agent is idea is crazy. Best of luck to you.
It’s actually a very common practice. It’s okay if you disagree. And yes, as someone in a service industry, I am constantly Asked to negotiate terms of service.
Hope, you’ve always struck me as a dreamer, but selling a house is a practical business transaction. Listen to the good advice you’re getting here. I’m most concerned about your plan to live in your car. At 50 and with two dogs? No camper or even van life? That sounds absolutely impractical and miserable to me.
Have you mentioned what town you live in, Hope, or are some of these readers stalkers?
Definitely some stalkers 🙂
But I am not hiding either. I live in a small town in northeast Georgia and have shared my social platforms in the past.
Hi Hope. I’m not going to say anything about the realtor, as I have no idea, but there seems to be a lot of good advice worth listening to. I’m not sure what you mean by ‘you need $6,000’ but also that you ‘have the work under contract’. Is that money coming in on time or not? Especially since you’re only making a few hundred a week so far, this seems quite out of reach. How are you going to afford your car service when you can’t pay your bills? Is it urgent or could it be out off for a little bit?
I’m glad work is picking up again. Are you reworking your website for when you start travelling? Word of mouth probably won’t be as useful on the road.
Are you able to lay out the plan for the next few months? You’re going to Gymnasts first, then staying with your parents to care for your mum before coming home? How will you work and care, I remember this was something that you struggled with in the past?
Ideally, the house will sell for what you’re asking for but have you considered how low you’ll go before you can’t accept an offer? Have a figure in mind now, otherwise it’s really easy to fall into the ‘it’s not that much lower…’ trap. Wishing you all the best that this goes well for you. X
Hope, your insistence on disregarding solid advice never ceases to amaze me. You seriously don’t think you’re in an emergency situation?
I’m 52, newly widowed, yet have a paid for house, a paid for car, zero debt, two forms of health insurance, a well funded retirement fund, and a six figure income and still have worries about the future. Your situation makes my chest hurt.
I do believe 6K is an enormous amount of money for 6 weeks of expenses. If it’s just you and bare bones that is a huge amount.
Since I am a contractor, I must include all taxes, medicare, social security, etc. in what I make. This amount includes that as well.
So you need $6K to cover personal bills (mortgage, health insurance, telecom, auto, food, transportation, pets and minimum debt payments) AND business payments (estimated income taxes, employer + employee ss/med, etc)?
You must have some calculation — for instance ‘I need $6000, which will be $3750 after self employment and income taxes, to cover my next 6 weeks of costs’. It would really be helpful if you had said that, and (for your own clarity) shown your budget or calculation. Context matters. You would have gotten a different response if you didn’t open with “I need to make $6,000 in the next 5 weeks to be able to cover February and March bills.” for instance.
You keep getting questions and pushback because the information comes out piecemeal, and you are constantly on the defensive about questions or criticism of your decisions and responses. Yes some of the comments are harsh, but you are ducking important questions and not holding yourself accountable in the moment.
Also I worry based on how you phrased the above, that maybe the business accounts are also overextended and you are in arrears there (ie you have spent the money that should be set aside for self-employment & income taxes, etc). Which would be an additional financial emergency.
Wishing you luck with the end of this chapter and the start of the next.
I do forget to include those types of details since they’ve been explained in the past.
But yes, I always budget an extra 30% to cover business overhead – taxes, etc.
Nothing is in arrears at all. I think I have said multiple times that all bills are paid and on time. The $6K is based on my forecast for the next 6 weeks.