HOUSE CALLS Bequeathed fixer-upper should be listed on market as-is

Problem home inherited from relative may be cost-prohibitive to restore

Q: My brother died recently, leaving me his estate in a will, which is in probate. He was a widower with no children.

He owned a house that he recently took a $100,000 loan on to pay debts. When he died he had made only one payment! We have a joint account that has about $38,000. I am paying the bills from the account, but I am afraid it will run out. The taxes are quite big.

I had not been in his house for 20 years, as he was very depressed and though we saw him, he never let anyone in. When my husband and I went in we realized what a mess we had. The entire house needs repair -- kitchen, bathroom, ceilings, windows, etc. I wanted to sell it, but now I realize with the loan I most likely will take a big loss and probably owe more money when it is sold. It also has a well and septic tank that I am sure need work.

What do I do? I originally wanted to get it up in working order as the area is desirable and is in a good school district. The problem is the money. I cannot cover the repairs. My husband and I recently paid off our house and would have no problem taking out a home equity loan. Can I use that money to pay the loan on my brother's house? We were even thinking of renting it if we could get it in working order. The mortgage company, which did things over the phone and never even saw the house, has it valued at $379,000, which if it was fixed up we might get. The house next door went for $430,000 a few months ago, but was completely redone. I do not want to put my own home in jeopardy. We have only one income, as my husband is disabled. -- D.V.

A: Don't mortgage your own home. Forget about renting the house out, and forget about repairing it yourselves. Your best solution will be to sell the place as-is to someone who is experienced in rehab work. If the land is the more valuable part, you may even find a buyer who intends to tear down the house and build from scratch.

Call three real estate companies that are active in that neighborhood. Ask if someone (preferably the managing broker) can meet you at the house and offer advice. You'll have a much better idea of your options after talking with agents. Then your lawyer can advise you on the procedure for selling. And on the remote chance that agents think the property might bring less than the debt against it, talk with the attorney about your right to refuse the bequest.

Neighbor wants to build

fences, not mend them

Q: My neighbor put up a fence 10 feet on my property. He pulled up my property line marker. I mentioned it to him and he denied it. I hired a surveyor to do my property boundary at a cost of $1,400. He pulled up the marker again. I had it resurveyed again. I also had a lawyer write a letter (no answer).

Can I get my $1,400 back? What else can I do? -- L.A.C.

A: If you're concerned about staying at peace with your neighbor, start by consulting mediation services. You can find them in the Yellow Pages, or your attorney can suggest names.

But if it's war you're after: If that's really your land, you own that fence and you have the right to remove it. Don't do anything like that, of course, without consulting your lawyer first. Ask also for advice about representing yourself in small claims court. You might not be awarded the $1,400, but you'd have the satisfaction of telling a judge what happened.

Home resale needn't be

restricted to one group

Q: My wife and I are thinking of moving to one of those communities for people 55 and older. What about the value of the house if and when we would decide to resell? It would be offered only to one age group, which would make selling the house almost impossible. What do you think? Also, we are relatively young, I am 56 and my wife is 50. Are we too young yet for a community like that? We like many aspects of that community living, but don't like some of the restrictions. -- F.S., via e-mail

A: Don't worry about re-sales restricted to one age group. That group is becoming larger all the time, and the restrictions may be part of the appeal for future buyers. But whether you're ready for senior housing is really a personal decision, and I can't help you there.

Edith Lank will personally respond to any questions sent to her at 240 Hemingway Drive, Rochester, N.Y. 14620 (please include a stamped return envelope), or readers may e-mail her at ehlank@aol.com.