Assisting an elderly relative in selling their home can be a complex task, as it often involves navigating their emotional attachment to the place filled with cherished memories. Research indicates that a significant percentage of senior citizens in the United States, 21% of men and 34% of women, live alone. While this situation has its advantages, it also implies that these older adults will inevitably require support when it comes to selling their home.
Helping An Aging Family Member or Friend in St. Louis With Selling Their Home?
Unfortunately, at times, it can become excessively costly for your loved ones to continue residing in their comfortable, yet potentially hazardous, old homes. Factors such as staircases or other unsafe conditions may pose risks, particularly for the elderly, leading to potential injuries. Assisting your elderly relatives in transitioning to a more secure living environment is an act of profound selflessness and love. If you are currently aiding a senior family member in selling their home, here are five recommendations to ensure a seamless and successful transaction.
Be Firm, Caring, and Accurate Throughout The Selling Process
It is highly unlikely that your elderly relative would willingly consider a move. After residing in the same house for countless decades, the prospect of relocating can pose significant challenges. They may acknowledge the necessity of a move due to physical limitations, or you might be urging them to do so to prevent potential future complications.
To effectively assist individuals in selling their homes, it is crucial to maintain objectivity while showing empathy. Address various aspects such as the concept and logistics of moving, as well as the post-move period. It is important to remind them that this decision is in their best interest given their current circumstances. When moving elderly individuals, especially into your own home, it is essential to carefully consider and understand all the implications. While your intentions may be well-meaning and compassionate, it’s crucial to avoid making a misstep that could have worse consequences than not moving at all.
Arrange For A Home Inspection
If you plan to sell your home through conventional means, it is crucial to provide potential buyers with information about the property’s condition. This entails obtaining a preliminary home inspection, unless you are confident that you are aware of any issues resulting from years of wear and tear. While it is possible to sell the property as-is, it may create complications if a buyer hires their own inspector and uncovers undisclosed issues. In many states, buyers have the right to terminate a contract in such circumstances. To learn more about presale home inspections in St. Louis, check out this article.
Assist With The House’s Renovation And Repairs
After residing in a house for an extended period, the interior aesthetics tend to become outdated. It’s not uncommon to encounter antiquated elements like wood paneling in properties that have been occupied for years. To ensure a favorable selling price, it’s advisable to revamp a relative’s home before putting it on the market and assisting them with the sale. Here, we present some budget-friendly suggestions for modernizing an older home.
If most properties in your area are in excellent condition or have recently been renovated, selling a home that requires significant repairs may take longer. Familiarize yourself with current design trends and try to persuade your elderly relative that repairing the house before selling it is the optimal approach for a conventional real estate transaction.
It is important to note that this does not necessarily entail a complete home remodel. Simple measures such as applying fresh coats of paint can be cost-effective and greatly enhance the value of a home. Moreover, upgrading appliances and the electrical panel can provide the house with added functionality, ultimately benefiting the selling process.
In the event that the worst-case scenario unfolds and you and your family find yourselves lacking the necessary funds to renovate the property, there is an alternative option available: selling it as-is. This can be particularly appealing for older adults who typically have a substantial amount of equity in their homes. We also offer tips on how to downsize your home in St. Louis if you’d like to consider this option as well. To explore this possibility further, you can contact us at Fast Lane Real Estate in St. Louis. We are a local real estate investment company that can provide you with a quick, fair, and hassle-free offer on the property without requiring any repairs. By avoiding certain mistakes in this process, you can navigate it more effectively.
You Will Need To Prepare Your Elderly Relative For Potential Buyers’ Home Showings
In a traditional real estate sale, once your home is listed on the market and photos are published, your realtor will start scheduling showings. It is strongly recommended that no one be present during these showings with prospective buyers and the realtor. This can be particularly challenging for elderly individuals, especially if there are multiple showings. To minimize the number of showings, you may consider having a single designated time for an open house.
You Can Avoid All Of The Difficulties Associated With The Previous Steps By Selling To A Professional Home Buyer, Such As Fast Lane Real Estate.
Fast Lane Real Estate is renowned for its utmost professionalism and unwavering commitment to fairness. We eliminate the hassle of repairs, inspections, renovations, showings, or realtor fees. Say goodbye to the worry of your relative’s home languishing on the market for weeks on end. Within 24 hours, we can present you with a cash offer, giving you the freedom to decide its fate.
Should you choose to accept, we typically close the transaction and provide you with the cash within a week. Rest assured, we are flexible and can accommodate your needs if more time is required. Discover more about how we work by clicking here. Fast Lane Real Estate purchases houses throughout Missouri, including areas like St. Peters, Fenton, St. Charles, and more.
If this seems like a more appealing choice for you and your elderly loved one or friend, as opposed to dealing with the difficulties commonly associated with traditional property sales, please reach out to us today. We would be thrilled to offer further details and address any inquiries you may have. You can contact us by calling 314-310-8338 or by completing the form on our website.
About Lane Forhetz
Lane Forhetz is a Real Estate Investor based out of St. Charles MO. In 2012 he founded Fast Lane Real Estate to provide quick, efficient options for homeowners to sell their property. Lane enjoys reading and hanging out with his family in his free time. He is a former Air Force Veteran and loves serving his community. You can connect with him further here: About Our Company