By Tracy Wick, SRES®
Many homeowners have previously bought and sold homes. However, selling a senior’s home can be much more complicated, due to the number of unique issues and decisions—and sometimes the number of people involved. Though seniors usually make the decision to sell, it is not uncommon for adult children to help them sort through these and other issues:
• Is moving the best to care for your parents and keep them safe?
• Where is the best place to move?
– To a relative’s house?
– Closer to family?
– To a warmer climate?
– To an Assisted Living Community?
• Are close family members on board with a decision to sell?
• What is the best way to downsize a lifetime’s worth of possessions and family heirlooms?
• What are the tax-related implications of a sale?
• What effects might a sale have on future income?
The financial, logistical and emotional issues involved in a move can be stressful for a family to navigate. Senior parents and their adult children may feel they are in unfamiliar waters as they deal with these questions. A real estate professional who has experience in senior’s issues, and who can put you in contact with other similarly-trained professional advisors, can be an invaluable resource at this time.
About the Author: Tracy Wick is a Seniors Real Estate Specialist® who is uniquely qualified to assist seniors in housing sales and purchases. Tracy has additional education on how to help seniors and their families with later-in-life real estate transactions. She draws upon the expertise of a network of senior specialists, such as estate planners, CPAs, and eldercare lawyers, and is familiar with local community resources and services. Her mission is to help seniors and their families navigate the maze of financial, legal and emotional issues that accompany the sale of the home. Tracy can be contacted at 248-912-7407 or at firstname.lastname@example.org.