Senior Couple Standing Outside webThere comes a point in time for many that they need to sell their parents’ home. This may be due to downsizing, transition into a health care facility or to their passing. Regardless of the circumstances, it is never easy. The physical task is daunting and the emotional process is draining. Below is an outline of the necessary tasks:

Talk with siblings - this is the first step. You might be related, but you probably do not all think alike. Discuss your wishes and expectations, divide up responsibilities and come to an agreement. If your parents are still alive involve them in the process as much as possible.

Make a plan - do you sell the home as-is or spend some money give it some aesthetic appeal? Determine how much the home is worth vs. its potential value. Working with a realtor to conduct a CMA (Comparative Market Analysis) is an economical way to go, and you will receive a general valuation range. I typically offer this service free of charge. If you need a specific price then order an appraisal for the home. Once you agree on the desired outcome then the heavy lifting begins.

Clean out the stuff - go through all the items and determine which items you wish to keep, those you wish to donate and the rest will be recycled or discarded. Removing clutter and unwanted personal items will help your cause. Clean up the home and make it presentable. Hire the necessary contractors to fix any issues to make it more appealing.

Pick the right realtor - this sounds like a simple step but it is very important! Having a realtor who is organized and responsible will help you sell the home quicker and maximize its value. A good realtor should also be able to refer you to trusted contractors to do the job right and stick to the construction schedule.

For more than 40 years I have helped hundreds of family members sell a relative’s home. I have the experience, credentials, and patience to work with older adults and under difficult circumstances. This list of tips is not exhaustive and there are many tricky situations that can arise. A good realtor can help you through the process.

Elissa Clausnitzer, SRS, is a licensed Realtor with Weichert Realtors and has over 30 years of experience in real estate. She specializes in helping boomers and seniors achieve their goals in their next step in life. For a free Comparative Market Analysis you can call her at 610-573-0386.

More Finance Articles

  • “Should I Sell My House Myself?”

    This question goes through everyone’s mind at one time or another. Can I save some money and some hassles if I do it myself (FSBO – For Sale By Owner)? Let’s look at why it is more advantageous to use...

  • 10 Commandments of Selling Your Home

    Whether you are buying or selling a home, it can be quite an adventurous journey. Here is simple advice for consumers when buying or selling a home. What is the home you’re buying/selling really...

  • 5 Real Estate Terms You Need to Know

    “In almost 40 years in real estate one of the most important things that I have learned is to have clear communication with clients and not to assume that we are all speaking the same language.” Below are...

  • 7 Deadly Sins of Real Estate

    Advice to help your real estate transactions. Helpful tips that will make your real estate transactions much easier.

  • A Reverse Mortgage Makes Your Home Work For You

    A reverse mortgage may help you pay off debt and provide breathing room John and Carol love getting their grandchildren off the bus, volunteering at church, and going for long walks together at Trexler...

  • Adjusting Your Home to Your Lifestyle

    As the frozen ground relinquishes its grip on budding tulips, we take note of the regeneration around us. Spring represents a rebirth and renewed vitality and stimulates a re-assessment of our...

  • Are You Planning for a Good Retirement?

    Most people who vacation spend many hours planning before hand. They purchase tickets, make reservations, schedule tours and transportation and anything else that allows them to relax and enjoy their...

  • Are You Ready for Medicare Open Enrollment?

    Medicare Open Enrollment for 2018 starts October 15 and remains open until December 7. During this annual enrollment period (AEP) you can make changes to various aspects of your coverage. You can...

  • Beach Property Drawbacks

    Erosion due to storms can be a huge challenge!   While it can happen any time of the year, erosion due to storms can have a dramatic impact on beachfront properties as evidenced by this picture in...

  • Before You Buy or Sell Your Home

    A crucial part of a house transaction is the inspection. There are a number of standard issues to review. Using a certified inspector will help ensure the property is cleared of any problems....

  • Benefits of Using Senior Real Estate Specialist

    Seniors have unique situations that call for someone trained to best handle them. A specialist brings more than just a realtor’s license when helping seniors with their real estate issues. These...

  • Brace and Testing Scam

    “Do you have Medicare? Do you have aches and pains? We can provide braces that Medicare will cover! How about a genetic testing kit to see if you are predisposed to getting cancer?” If you are like...

  • Buying or Selling a Home? Use a Realtor with Experience

    Similar to younger generations, seniors are an active demographic in the real estate market. Whether downsizing or moving closer to family, seniors need and desire to transition into a new home for...

  • Discounts for Veterans 2018

    This section is  a list of local and national organizations that offer discounts to veterans. These discounts can change so check first to verify the discounts offered. Also included are resources...

  • Dutch Treat - Savings in the Valley

    For many years organizations like AAA and AARP have negotiated discounts for members and seniors with national companies. At the local level there are numerous businesses in our community that offer...

  • Elder Law Alert: Department of Veterans Affairs Makes Sweeping Changes to VA Pension and Aid & Attendance Benefit

    Introduction VA Pension benefits are “nonservice connected” disability benefits that provide a monthly tax-free income to eligible wartime veterans and their surviving spouses. A married veteran can...

  • Excellent Phone Apps for Seniors

    MintGet your finances under control with an all-in-one budget and money tracker called Mint. By securely syncing to your bank accounts and credit cards, Mint will track your income and expenses (by...

  • Getting the Right Help for Your Move

    When you’re ready to move, are you going to call your friends with pickup trucks to come over and help?  When relocating from a large four bedroom home to a one or two bedroom apartment in a senior...

  • Industry News For Professionals July-August 2017

    Lehigh Valley Aging in Place Coalition (LVAIP). The mission of LVAIP is to provide an ongoing forum for professionals from private, public, non-profit and business sectors to inform, educate and...

  • Industry News For Local Professionals - Holiday 2018

    HealthNetWed., Nov. 14, Dec. 12 at 12 pm. Traditions of Hanover Bethlehem, 5300 Northgate Dr., Bethlehem. Monthly networking group for professionals hosted monthly and features a speaker and time for...

 
Contact Us

Please enter your data here. Fields with an asterisk (*) are required.
Please provide us with a phone number or email so we may respond to your request.
Full Name (*)

Please type your full name.
E-mail

Invalid email address.
Phone

Invalid Input- please enter in form: 123-456-7890
How may we be of service? (*)

Please tell us how big is your company.
Please enter the characters shown. (*)
Please enter the characters shown.
Refresh
Invalid Input