Newsflash: Options for Selling a House in (Very) Bad Condition

An older relative of mine in Louisville, Ky made a very poor decision after their spouse died and left them in dire financial straits. They had to downsize VERY quickly and rushed into purchasing a home that had a lot of issues and was situated in a less than desirable area. That was over 10 years ago, and they haven’t exactly maintained the place very well, so it is in pretty bad condition.They really want to get out of the home and into a nicer place (likely a condo), but I cannot imagine the house would sell on the normal market and they are unable to perform the many repairs that would likely be needed. They did pay cash for the house, so there is no mortgage involved. I think they understand they will likely lose money, but ideally, they’d like to have enough cash to buy another place or at least have a good down payment for one.What are their options in this situation? Has anyone else been through/worked on such a situation? I’ve seen those ads for “we but ugly houses,” etc, but I’m guessing those people/companies are out to screw people like my relative.Any suggestions/stories would be greatly appreciated!!’



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