Making the Decision to List An Older Family Home

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Real Estate Agent with Marilyn Boudreaux, Century 21 Bono Realty 0912122870 LA

Sometimes it becomes a necessity to sell the family home where a homeowner may have resided for several years.  When viewing  older  Lake Charles Homes for Sale  you may feel like you have stepped back in time!

 

heir property

 

Part of the life cycle  homeowners experience is when it becomes time to sell their current home where they have resided for many years. Many times  an elderly homeowner has made the decision to move  into an Assisted Living or  with  a family member. It is a difficult and emotional decision to make and I have experienced this season of transition personally with my own parents.   If an elderly homeowner is considering a move to an Assisted Living  in the  future its never too soon to begin thinking about selling their current home.  Its always good to know your options!

 

 I have listed several homes where various circumstances has occurred and its time for Mom or Dad to make a move. I've worked with  many elderly home sellers and/or their heirs listing  Homes for Sale within Southwest Louisiana. Did you know that if an elderly homeowner moves to an Assisted Living,  and still owns a home they are not eligible for residence assistance  from Medicare .  In order to obtain Medicare assistance for their new residence , any previous home has to be sold  5 years previously.  So its never too early to begin the planning stages of down sizing or making arrangements for your future!

 

 It is also helpful if an elderly homeowner  has a Power of Attorney with a family member just in case something comes up with the house which would prevent the homeowner from executing a contract or closing documents just in case something comes up with the house which would prevent the homeowner from executing a contract or closing documents. I have assisted several  heirs  who were faced with selling  their parent's property or another family member's  home. Before listing an heirship property it is important that the Succession be completed and filed.  I have had a few homes under contract for Buyers before and the process stalls because we have to wait on the  Seller's succession to be finished and filed.  Title cannot be reviewed for a closing if their are still outstanding issues with a deceased and the succession.  The heirs must have the power to sell the property and be granted ownership to do so.  In Louisiana it is required that the Seller complete Property Disclosure Forms which are a list of questions pertaining to the home.  When an estate property is being listed by heirs,  most of the time the heirs will not be able to  disclose if they never lived in the house, so they are exempt.

 

outdated kitchen

It is not uncommon for estate properties to be an older home that has not been updated, buyers may feel as though they are visiting their Grandparents house!  One owner homes  have usually  been lovingly maintained for the years the homeowner lived there.   An older home with original or "retro" features may take a bit longer to sell, however there are buyers who can see the potential of remodeling and updating to make the home their own.

 

When listing estate properties  fiduciary duties of the Realtor to the heirs is very important.  There must be a trust and relationship established  between the seller and the Realtor.  Many times the heirs live out of state and as the listing Realtor here in Lake Charles, I have stepped in  to help the heirs with referrals with  everything from estate sales to vendors for repairs and inspections.  

One of  the tips on the Checklist of Selling a home is to clean and de-clutter before the home is available to view and photographs can be taken for the listing.  Listening to your Realtor's advice and guidance will be of value during what can be an emotional time for the seller.   Sometimes accepting a lower offer on the home may be in the best interest of the heirs because of the inheritance tax.  You always want to pay a lower amount when it comes to tax!

 

Downsizing or going through a life transition when its time to sell your Lake Charles home is an adjustment.   I have guided many others through the steps of selling a family home and would welcome the opportunity to meet with you!  Contact Marilyn Boudreaux, Century 21 Mike D Bono & Co.'s 337-499-9592

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For more information on Lake Charles Real Estate, visit my website.  You can search homes for sale in Lake Charles, Louisiana,  and view up to date information on Lake Charles Subdivisions, Neighborhoods

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If you are planning a move to or from the Lake Charles, LA area, I can help!   I am a full time Realtor licensed by the Louisiana Real Estate Commission and am affiliated with:


Century 21 Mike D. Bono & Co.'s

4410 Nelson Road, Lake Charles, LA, 70605 USA

337-478-1578 or 337-499-9592

CENTURY 21® is a registered trademark owned by Century 21 Real Estate LLC. An Equal Opportunity Company. Equal housing Opportunity. Each office is independently owned and operated.  The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments are not warranted or implied representation of it's accuracy,  All information is copywritten and the property of the Author, Marilyn Boudreaux.  

 

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Topic:
Home Selling
Location:
Louisiana Calcasieu Parish Lake Charles
Groups:
Louisiana Real Estate
Advice for Sellers
Tags:
estate property
elderly sellers
heirship property
listing moms house

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Rainer
453,345
Diane M. Phillips Realtor 443-286-4365
Frankly Real Estate Inc. - Manchester, MD
Specializing in Carroll Co., MD

Marilyn ~ Beautiful post. It's so difficult to handle this transitional stage of life with folks. Our elderly generation is a group to be treasured. Looking at the pics you can see see the quality and care of the owners took of their belongings. There is a lot to be learned from them. They should be treated with dignity and respect.

Mar 22, 2015 01:57 AM #1
Rainmaker
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Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Marilyn Boudreaux Excellent blog post and one that reminds me of all the older family homes we have listed and sold over the years. Just another reminder that the Real Estate Business is indeed a People Business!

Mar 22, 2015 03:15 AM #2
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