(My Why) Wednesday

WHO: Adam

WHAT: Selling his fathers home

WHERE: Springfield

WHEN: January 2022

WHY…..

“When I was a boy and I would see scary things in the news, my mother would say to me, "Look for the helpers. You will always find people who are helping.”

-Fred Rogers

Adam Godby is one of the helpers.

In 2013 Adam was a food rep for Reinhart Foods and I, along with my daughter, owned a restaurant. We were using a different company for our food supplies, but Adam would stop by the shop, buy a cup of coffee and visit with us weekly. He was never pushy, but he was always friendly and helpful. On one of these visits I was panicking over something that had nothing to do with food. My husband at the time had a serious health condition that was getting worse. A friend of mine had suggested a doctor in New York but I was overwhelmed and wasn’t sure how to get the phone number. Adam was sitting in the back of the restaurant, drinking a cup of coffee while I worked the front counter. Before leaving, Adam walked up and handed me the phone number for the doctor in New York. His kindness and concern left an impact on me and needless to say, we switched our account to Adam. After we sold the restaurant, I got my real estate license. My broker told me to look through my contacts and send a note to everyone letting them know I was in the real estate business. One of those contacts was Adam. He called me immediately and told me that he and his wife were looking at buying a home, but that is a story for another day. The story I want to tell you today is the story of selling Adam's father’s house.

When Adam called me about selling his father’s house and asked if I could take a look at it, I said “Sure, I’d love to!”. His dad had bought the house a few years earlier, but when he was diagnosed with cancer, he and Adam made the decision that he should move in with Adam and his family. I stopped by the house and Adam introduced me to his dad. As we walked through, looking at the condition of the home we talked about the things that could add value to the home without a lot of cost. The problem that his dad had, was that the condition of the home had deteriorated because of his health and his inability to keep up with the maintenance of the home, plus he had paid a top price for the home in that neighborhood. We had to figure out how to add value so that we could pay off the mortgage and pay the fee to sell the home. There were several items that would help with the value. Adam could upgrade the bathroom, paint the walls and make a few other changes that would help boost the selling price. The home sat on a nice size lot and had a two car garage with additional space for a shop. We figured a timeline for repairs because Adam was working fulltime, so the remodel would have to be on the weekends and after work.

A few months later, Adam called me to do another walk-thru. I met Adam and his dad at the house. While his father waited in the car, Adam and I walked through the house. As we walked, I asked Adam how his dad was doing. “Not good,” he said with a worried look. I was worried too. I asked Adam if he was on the deed with his father. “No,” he said, “It’s just my dad.”

“Did he have a Power Of Attorney in case something happened and his dad couldn’t make decisions?” I asked quickly.

“No, nothing like that.”

“I think you should call an attorney right away,” I suggested. “If you don’’t know someone, I can recommend a couple of people that I’ve worked with before.” His dad sat patiently in the car waiting for us. I brought the Listing Contract to his dad and went through it with him, letting him know how the contract worked, and gave him the details of the listing. He signed it and handed it back to me. I looked at Adam and I could see the worry in his eyes. Adam texted me later and told me that he had called both attorneys and was waiting for a call back.

The next morning Adam texted me. His father had had some sort of medical emergency and had been taken to the hospital. He was hallucinating and incoherant. Adam told me that the secretary for the attorney had called him and he had explained the situation to her. He worked with the attorney to figure out the best scenario but his father would need to be cognizant in order to sign any document. The hospital released his father and Adam took him home. While sitting with his father a few days later, he suddenly became lucid. Adam quickly called the attorney’s office and the notary said she was on her way. She brought the paperwork for Power of Attorney and a Beneficiary Deed. She asked his father a number of questions to make sure he knew what he was signing and that he agreed to the documents. He told her he understood and agreed and then signed the documents. A few days later Adams' dad passed away.

It was a difficult time for Adam, but because we had not put the house on the market yet, we were able to list the house under Adam’s name. We filled out a new Listing Agreement, got the Disclosures done, pictures taken and the sign in the yard. The house went under contract the first day and luckily it was enough to pay off the mortgage, pay the fees and give the family a little bit of money to help offset the cost of the funeral.

Adam is one of the helpers.

Fast forward to today. Adam and I moved on a similar path. I sold the restaurant and started a career in real estate. Adam moved from being our food supplier to mortgage lending with Paddio where he is a successful and busy lender that works in 50 states. He is still helping me solve difficult problems with buyers that need help with credit issues, divorce that creates financial hardship, and making the impossible possible. I thank my lucky stars that I get to call him my friend.

Note* Please think about contacting an attorney about making sure you have protections in place, in case something happens to you or your spouse. It only takes a moment for everything to change in your world. Precautions are easy, death and disability are not.

Missouri Beneficiary Deed

A beneficiary deed (also called a transfer-on-death or TOD deed) is like a regular deed you might use to transfer real estate located in Missouri, but with a crucial difference: It doesn't take effect until your death.

Note*. Power of Attorney is valid only while the person is living. It is revoked once the principal passes away.

If you need a miracle worker or just want to work with an honest, hardworking and experienced lender to start the pre-qualification process, call Adam!

If you want a person that understands the in and outs of life and cares deeply about your home buying experience, call me at 417-844-3122 or email me at deborah@417theory.com