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Phew! Last possible hurdle cleared & Next 5 big things to do

September 28th, 2015 at 06:39 pm

Great news! The realtor told me the bank's appraisal came in fine. Curious, I asked her what their number was, but she said they don't usually give a specific number, only if they feel it's overpriced.

So we're looking at a potential closing on Oct 7, 8 or 9. I can't believe this is really going to happen. The exact date doesn't really matter to me since I don't plan on being present. (I remember when I bought my house, I was so surprised when the sellers at that time also didn't show up.)

Soon, I'll be able to exhale on that score. A Really Big Exhale.

I will also have a large sum of cash deposited into my mother's checking account that I will be looking to invest. Somewhere around $128,000. The money will be totally spent in 2 years or less, so I want some fairly stable investment choices, not stock funds. I haven't given it much thought, had just assumed I'd put it in some kind of Vanguard funds, but maybe laddered CDs would be better/safer. With interest rates due to rise before the end of the year, maybe this would be a good idea. They'd have to be short-term CDs, like 6 mths or a year max. I could first exhaust the $100,000 in mom's Vanguard account. Any ideas/suggestions out there for the best thing to do with the proceeds from the house sale?

Here are some things I want to do once the closing is behind me:

1. Drive to NJ to deliver 2 pieces of art I've sold to my 2nd cousin. Collect $900.

2. Invite a weaver down from northern CT who was interested in my mother's art. (I'm not sure if maybe she's just got time on her hands and is looking for a friend, whether she wanted to merely view another weaver's work, or possibly buy something.) We had already planned a visit earlier, but I had to reschedule after my mother broke her hip.

3. Prepaid funeral. This one's a downer but everyone is telling me I should do this before I file for Title 19 Medicaid/nursing home as this is a permitted cost. I have thought about this a lot. It's going to be difficult to do, but better to do it now while i have a relatively clear head.

4. Hire an electrician. I have an outlet in the garage that's not working, and my attic lights also are not working. Did mice chew on the wires or something?

5. Drive up to a gallery about 30 minutes north of here and collect some of my mother's work that has been there way too long. I mean, I certainly don't have much room here, but at the same time I feel a little nervous having the gallery keep my mother's art for so long, especially as I don't know which or how many pieces she has. My mother is no longer capable of managing this and I want to make sure her art is safe and all accounted for. If the gallery hasn't sold it in over a year, I think it's time to take some of it back.

At the same time, I have a great deal of unframed, matted art of my mother's. I might get some prices from the gallery owner for framing a select few, either for my own enjoyment or to sell. Because without framing it, there's no way to hang it and thus it's kind of hard to sell. And over time it would much more easily damaged without a frame. I should know, as I keep stumbling into art all over the place here.

6. Help my dad with his house in NJ. My dad plans to sell his house in NJ now that he is living up here, at my sister's. I can't imagine how much work it is for him, at 82 and macular degeneration, to be trying to do this on his own, especially given that he's now living 3 hours away from the house. I have offered several times to help him and each time he (rightly) said, don't worry about it, you've got enough on your plate.

I hope he'll accept my offer to help after the closing. I can be his eyes and his legs and I have plenty of energy for a 50-something-year-old.

I was even thinking (I'd have to clear this with my cousin), of inviting my dad to join me as I deliver the art to my cousin and we'd be halfway to the Jersey shore. So after my cousin's, we'd continue south to dad's house. We'd get 2 things accomplished and save on gas.

Today I was hoping my friend at work would pay me for the art she bought ($425) but she forgot her checkbook. I know she's good for it, especially as she has already taken the art home and thus will feel more "committed," but I was anxious to get payment in hand nonetheless. Hopefully when I'm back in office again on Wednesday. She did say her husband really loved the piece too. Smile

Tomorrow:
I have someone supposedly stopping by to purchase a lamp (very cheap, but I was going to donate it) and possibly the woman who already paid for my slipper chair.

I have the big follow-up meeting with the people at Masonicare.

I want to call Medicare to learn the status of the claim they denied...the infamous 911 call my mother made becus she was constipated...It's over $600 if they deny again.

I also hope to wash some of my mother's laundry so I can bring it with me when I go to the meeting there as I'll pop in to see my mom, and I would like to post a few more yarns on the Facebook page where I've been selling.

Finally, I want to see if I can order a beautiful photo of my mother that appeared in an Litchfield County newspaper about a year ago when they did a feature story on her. It's a really great shot that captures who she is, and I could use it with PR for any future shows/exhibits the art consultant can drum up.

7 Responses to “Phew! Last possible hurdle cleared & Next 5 big things to do”

  1. FrugalTexan75 Says:

    I'm not sure of what the best way is to invest/store the money, but I'm wondering if the tax consequences for not using the money towards another house are mitigated because it's being used for assisted living care?

  2. Joanie Says:

    I usually don't comment but since I went through this with my mother (she died Feb of 2014) I thought I'd re-enforce getting a prepaid. I also had to put my mom on medi-cal (Calif.'s medicaid) and it was well worth the emotional upheaval.
    Also- the picture that you say really represents your mom - have you considered having a copy in her room? Sometimes it really helps to have the workers in the facility to see what the person was like "before" - especially if/when your mom moves to a skilled nursing facility or nursing home. It seemed to make a big difference in their perception of my mom (she could be demanding).

  3. VS_ozgirl Says:

    Phew you are productive! You should be very proud of yourself

  4. PatientSaver Says:

    Frugal Texan, that law about only being able to avoid taxes if you move up to a bigger house went by the wayside, fortunately, with the Taxpayer Relief Act of 1997. I had to brush up on the law myself, but here's more details: http://www.bankrate.com/finance/money-guides/computing-capital-gains-on-home-sale-1.aspx Most people also don't have to pay taxes on any home sale profits.

    Joanie, excellent suggestion, and I do think it could be helpful to the staff who work with her every day. I'm sure most others simply see her as a fragile old lady, not the creative, kind and dynamic woman she was.

  5. creditcardfree Says:

    We've bought and sold three homes and never at closing were buyer and seller together. Although sellers realtor was at the closing when we purchased last time.

    And you are right on the profits of home sales...only if it is $250K or more, $500K if single.

    The prepaid funeral costs is an excellent idea. Make as many decisions on that now when it is less emotional.

  6. CB in the City Says:

    I like your suggestion, Joanie. I'm going to recommend it to a friend whose mother is in long-term care.

  7. ceejay74 Says:

    I didn't know not showing up was an option! I hated being at the closing of the sale of my condo. It was a big financial loss, I had to hear the buyers talk about tearing up the floor I'd spent thousands refinishing, etc. Blech.

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