For our older loved ones, there comes a time when they may no longer be able to live on their own at home. In these cases, family members could find themselves dealing with the sale of a property they have not legally inherited while their relative transitions into an assisted-living facility or senior community.
So, what exactly does the process of selling your older relative’s home entail, whether it is your grandparent or mother or father?
Get all parties involved
At the start of the selling process, it is good to meet with the client and their family to see if they are of the same mind and intentions, and to determine what their goals are for the sale of the home. This is also an opportunity to decide what the next step will be for the senior and what living needs they may have.
You may also take this time to check for wills, powers of attorney, lawyers, and review where the money from the sale of the property is going, such as towards the expenses of long-term care.
When selling a property, it is common to declutter the home and either sell or throw out possessions. In the case of a senior seller where some valuable or sentimental items may be expected to be left to someone, it is crucial to review and document these pieces ahead of preparing the property for sale.
I
Image via Pexels
Prepare both the home and the seller
Putting a home on the market is a stressful event for any homeowner, but it can be especially difficult for vulnerable seniors or ailing relatives. In some cases, it may be more beneficial to move the senior out prior to the home being listed. It is easier for them and less disruptive if they are not living in the house when repairs are being done and when agents are showing the home.
When it comes to the process of selling a senior’s home, it is important to ask your REALTOR® about their knowledge of senior accommodations where the client may live after the sale is complete.
If you are starting the process of selling the home of an aging or ailing relative, consult the advice of a REALTOR® with a SRES® or ASA ® Seniors Designation, to make the transition less stressful and more successful.
Post a comment