Three months ago I began working to help a woman who is in a local nursing home sell her property. I had no idea when I started what that journey would entail. On several occasions as I worked through the process of getting the home sold I questioned my own sanity. The root of the problem was I had no experience dealing with the situation and even though I work with the most reputable and largest realtor in Central Kentucky I couldn't find anyone that could add expertise to help me with selling this home.
Once I was put into contact with the right person at the state level things went quite smoothly. In fact the state worker returned her emails and phone calls much quicker than many realtors and was a delight to work with during the whole process.
My client is in a nursing home and receiving considerable support from medicaid to pay for her care. I don't know the particulars of the law, but I do know she needed to have approval of the state medicaid office in order to get the home sold. I did not know that when I agreed to list the home for sale.
My clients family was especially cooperative and helpful in helping me find out what was needed. In fact one of the neices did considerable phone work with medicaid. The people who work at the local medicaid offices were quick to respond to their email and phone messages but did not refer us to the correct person at the state level to get the approval we needed.
After spending many hours reading and trying to understand medicaid policy here is what I learned we were up against in selling this home. The medicaid policy is you must list the home at the county assessed value. I did that and received an offer fairly quickly for 73 percent of the assessed value. The medicaid policy states you must sell it at the assessed value unless it has been listed six months. Then they will reconsider a accept up to 66 percent of the value.
Making this family wait, especially in this market, and foot the expenses of upkeeping the property hardly seemed just. Unbeknownst to me there are exceptions made to the policy. Once I was put in contact with the state office the ball began to start rolling. The original owner no longer wanted the property but we were given permission to reduce the listing price and we received a new offer rather quickly.
. If any one in Kentucky is trying to sell a medicaid assisted seller's home please feel free to contact me.I just want the state medicaid office to get due credit for helping this family sell their home.
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