Reply to Elderly in-laws refuse to sell house that needs $200k of work, are out of money, can’t get loan

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Reply to "Elderly in-laws refuse to sell house that needs $200k of work, are out of money, can’t get loan"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]What is the absolute worst that could happen? They live in a house with a leaky roof? They're not going to be homeless. 
My grandparents lived in a decrepit hoarder's house; the place was falling apart and they couldn't be convinced to leave. They got into their 90s and eventually died of old age within a year of each other without any nursing home stay. Sold as-is and torn down. Maybe that will happen to you.[/quote]

Is it terrible that I think this would be the best case scenario? I truly do. I think, at the least, the roof needs to be repaired. I know that can range from $10,000-$30,000. Maybe we agree to contribute $10,000 to the cost of it, paying it directly to the vendor to make sure the funds go where they are needed, and then let the in-laws figure out how to finance the rest of it, likely through a home equity loan, as they won’t qualify for any other type at this moment. [/quote]

Tell them they need a HELOC and let them spin their wheels for a while figuring out how to get it. Either they won't be able to get it together due to the dementia, or they'll get a reality check as to the value of their property. That way you can defer this decision for a while.

You need to operate under the assumption that the dementia is a lot worse than is visible to you.[/quote]

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