Tips for Selling My Elderly Parents Real Estate

If you want to sell your parents’ house to move them into an old age home or simply because they have gotten really old and cannot afford to live alone, you would want to make it quick in selling the house and make a deal as fast as possible. However, selling the house is not as simple as one might think, and it may take several months.

There could be several issues to the house; for example, the plumbing may require thousands of dollars to fix. Adult children may also not want to deal with contractors and renovators to fix the house. Emotional attachment to the house may also cause difficulty in selling the house. Different childhood memories may cause it harder to sell real estate.

If you have trouble selling your parents’ house not to worry we will be providing you with some tricks that will help you sell your parents’ house in no time.

Consulting a Contractor

By consulting different contractors, it may be easy for you to save a large chunk of your money. The contractor will guide you on what things need to be fixed at once and avoid unnecessary repairs. You only need to make sure you make repairs that would benefit your sale and help the house to be sold and a profit. You do not need to make big renovations to the house, which would require thousands of dollars. The local contractors would give you a better estimate of the amount that you would spend. 

Declutter and Stage Your House

You may wonder house sellers sell their house so fast and at the asking value, while your house remains in the market. It could be time to evaluate your house’s condition and environment. Usually, dirty houses, houses that are too cluttered and too messy are a harder sell. Buyers cannot see through all the mess and may think that the house is too stuffed or full of things.  

This may affect the price of the property and may cause it to sit in the market for quite a long time. The chances are that downsizing your house may help you a lot in selling your parents’ house and may also help your parents move out.

Decluttering or staging means to thoroughly clean your house, which would make it attractive for the buyer. Staging is just like getting our car detailed before selling it to a buyer. You may get rid of extra unnecessary items in a house. Personal items are also removed, such as old posters and family photographs.

If a house is heavily cluttered or too dirty, you can always hire a professional decluttering service. These services usually take a small amount of money for their service, but they make sure that they bring back your house to its former glory. Some services also take some percentage at which the house is being sold. However, these services can help a lot in the long term for you to sell your parents’ house because old houses tend to have a lot of unnecessary stuff.

Make Realistic Timeline

Moving out of a house may take a lot of time and effort, especially for senior citizens. It may take several months or even a year to leave a lifelong house. To make sure that this does not happen, the seller must take great care when establishing closing and vacancy dates. At least eight to ten weeks are recommended for moving out and relocating. This may time may be helpful for senior citizens to easily pack up their stuff and avoid the hustle of packing at a moment’s notice.  

Lowering the Price

By taking the help of a real estate dealer, you can have an estimate of the price at which the houses are being sold at your location. After getting an estimate, you can list your house at a price that is about ten to twenty percent less than that in the market. This would attract a lot more buyers to the real estate. Lowering the price may look like a loss, but it is better than giving costs like insurance, mortgage payments, ongoing renovations, property taxes, and utility bills.

Making Sure That the Entire Family is on Board

If you are not the only sibling, things may get complicated as other siblings would not want you to sell out their parents’ house. Or they might want a cut of the profit that the house is being sold for. It is necessary for the elder parents to make sure that siblings do not get in a fight if the parents are too old or mentally disabled due to their age.

The sibling should not squabble among themselves but take to an advisor or a therapist that might help them look for a way that is suitable for everyone. Buyers usually avoid real estates that have families fighting over it.

Contacting Service Providers

While selling your parents’ house, you must make sure that you cancel non-essential services such as television cable, water delivery services, regular grocery delivery services, etc. If the seller sells the house, they need to make sure that the utilities are intact such as electricity, gas, and water, and heating. The seller must also leave the burglar alarm if already connected. The seller must contact the home insurance carrier and let them know about the situation. They should not cancel home insurance policy until the house is sold. 

Sell to a House Flipping Company

If repairing and renovating your house may cause a large amount of money to be spent, then you are willing to invest. There are many house flipping companies that pay cash for homes in a very bad condition. 

These companies, however, would buy your real estate at forty to sixty percent of the real value of your property. These companies would buy your real estate renovate and repair it and sell it for a large profit. The seller must also make sure to avoid disreputable companies and buyers that may charge several hidden fees or change the initial deal.

Plan Ahead

Usually, families are forced to sell their family or parents’ house when a crisis has struck. Mom or Dad may pass away at any moment or may develop diseases that may cause them to relocate or move out as they cannot live alone. Surely, none of us knows what is in the future. We can only take precautions. We need to monitor our parent’s health and if their health is declining, and they are showing signs of slowing down and unable to maintain their homes, medicines, or finances. Serious steps must be taken. Family members may ask the parents about their future plans and look for solutions.

The planning and solution may be that the parents may need to be moved to a smaller, more manageable house, parents may be moved with a family member who can take care of them, or they can be taken to a care facility where they can be treated.

Conclusion 

It can be hard to sell houses that hold memories of your childhood. However, all the emotional attachment maybe one of the biggest deterrents to selling your parent’s real estate. Try focusing on the positive side of buying a better house for your parents that would help them through their years.  If you have any unanswered questions or want to learn how to sell your house fast and get a cash offer within 48 hours feel free to email skilledpropertyfinders@gmail.com and schedule a call.  You can also visit skilledpropertyfinders.com and fill out the sell your house form.

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