Nelly

Perhaps Captain Picard Speaks for All of Us

I met with Nelly today. She was a referral from my very first real estate client, more than 15 years ago. Anyway, Nelly has a house she wants to sell. And could I meet with her and list the place?

If it were only that simple?

Nelly did not know anything about how to sell a house. She had no idea what it was worth and wasn't sure where to begin. So, before I met with her, I did my homework and got a fair idea of what she could expect. There was a model just like hers for sale that had been "updated" and I had set an appointment for us to see it so we could compare (for the record, new paint is not "updating").

Anyway, when I got to Nelly's home, she mentioned she didn't live there any more. She had bought it a couple of years ago by herself. She had a boyfriend at the time who helped her with the down payment but they didn't work out. The now ex-boyfriend lived there alone. As we stood in the driveway, she sweetly told me that there was a slight hiccup. He knew we were coming, but all of the sudden the locks were changed and the garage code was different. She had been calling and texting, but he didn't answer. No matter, she was sure he would get back to her as soon as possible.

I suggested we go see the house down the street for sale and get an idea of what she could expect her competition to be. As we were touring the other place, I asked if her ex-boyfriend had a lease. No. Was he paying rent? Actually, he paid half the mortgage. Every month, Nelly gave him her "half" of the mortgage and he just automatically paid it. Was he anxious to sell? Yes.

The story about the guy got weirder. He had claimed the mortgage interest on his taxes for the past couple of years--not allowing Nelly to do so. However, he is not on the loan. Nor is he on the title to the house. Nope. He has no rights whatsoever to this house. And she is paying him to live there, whether she realized it or not. And to be fair, now she realizes it.

By the end of our time together, I am pretty certain Nelly understood her ex-boyfriend may not be as cooperative as she thought he was. She promised me she would call a lawyer (I gave her the name and number of mine) and an accountant. I hunted down the title office that handled her closing and asked her to call them to get her settlement statement (the ex-boyfriend has it and "can't find it."). She has no idea what company holds the mortgage to her home or if it is truly being paid. She has no idea if the homeowner's association is being paid regularly. And let's not even talk about taxes and insurance! I pointed out if her ex doesn't pay any of these, it is her credit and future that is ruined.

I have no idea how this is going to turn out. Actually, not true! I pretty much do have an idea, and it won't be pretty. Anyway, I won't be listing her house at this time. And that is probably for the best.