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 alternative? If so, where? Have other options
• 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. You can count on a Seniors Real Estate Specialist® (SRES®) to help guide you through the process and the special considerations, making the transaction less stressful and more successful.