It’s come time to prepare to sell your elderly parents home. Everyone typically puts it off as long as possible, but as parents age, the cost of caring for them rises and in most cases, it’s inevitable that you’ll have to face selling your parents house. Caregiving takes its toll financially as well as physically and emotionally. Some medical expenses are covered by Medicare, Medicaid or insurance, but there is always something popping up unexpectedly. Sometimes it’s those midnight runs to the ER or urgent care than take a toll physically and prohibit you from working the hours you need to just to make ends meet.
For many, the toll of caregiving only leaves them the option of selling. As much as you probably hate to face it, you’ll likely need to sell your elderly parents home. It’s important to know how to get a house ready to sell, and how to handle the sell. You may have several questions like Do I know how to sell my parents house? Can I put it up for sale by owner? Or How do I sell my parents house before death? There are plenty of questions and plenty of answers when you are in the position to sell your elderly parents home.
Can I sell my parents house before death?
One question that comes up a lot is, “Can I sell my parents house before death?” And the answer is yes. You can, and may need to, look at selling your parents house before they are deceased. You may need that money to help pay for their care in one way or another. You will need their consent or be named their power of attorney with specific stipulations for handling decisions pertaining to property and finances. Read this paperwork carefully and discuss it with a legal professional as there are different types of PAOs that allow for a third party to handle different types of decisions.
How can I put up the house for sale by owner?
If you want to look into the option of advertising the property for sale by owner, you will need to be the “owner.” This method may get the house sold, but it can be a long, drawn-out process for you as well as for your parents. Selling the house yourself rather than going through a real estate agency can save you some money, but then you’ve got to deal with the responsibility of handling all the marketing, finding a buyer and making sure they can handle it financially. You’ll also need to handle all the paperwork and closing costs in order make the sale.
Tips for Selling Your Parents House
Selling your parents house can be a huge undertaking. Selling any house can be difficult, but it can be emotional and challenging when you are trying to sell your elderly parents home. Here are a few tips for those asking about how to sell my parents house.
- What financial obligations are still outstanding?
- Are the utilities on and are they in your parent’s name?
- Do your parents have a will? Have they spoken with an estate planning attorney?
- Who has power of attorney and authority for selling your parents house?
How to Sell Your Elderly Parents Home
You may still be asking Am I sure I know how to sell my parents house? Having to sell your elderly parents home is not an easy decision and it’s not easy to prepare it to put on the market either. When they go into assisted living or a nursing care environment, you may have to deal with a lot of stuff they cannot take with them.
How to get a House Ready to Sell
If you need to sell your elderly parents home, you may wonder how to get a house ready to sell. Typically, you’ll need to make repairs, make sure everything is working correctly, hire a landscaper for outdoor areas and just get everything in shape in general. This can be a costly endeavor as well as time-consuming. You may need to paint the house inside and out and do all sorts of things to make it marketable. Most of the time if you go through a real estate agent, they will give you a long list of the things that need to be addressed before even putting it on the market. However, before you ask how to get a house ready to sell, look at one more option. You may consider the option to sell your elderly parents home to a cash buyer.
How to get a House Ready to Sell to a Cash Buyer
Are you still asking, how can I sell my parents house before death? And how can you get it ready for a cash buyer without upsetting your parents? It’s actually simpler to get your parents house ready to sell to a cash buyer. You literally don’t need to do a thing except make a phone call. Just call the investor, or contact them online and ask them to come look at the property. They will come out and take a look at the house and make you a cash offer. When an investor buys a house, they make the purchase as-is. That means they take it just like they see it. You don’t have to make any costly repairs or make any renovations. It’s much easier than other options like going through a marketing agency or putting it up for sale by owner.
Selling your parents house is stressful. Although there are lots of ways to do it, using power of attorney takes time and money. Don’t wait for the house to get sold. If you need your parents house sold ASAP then selling to a cash buyer is your best option.
At I Buy SW MI we specialize in a quick sale so that you can get on with the more important things in life. Don’t stress out about selling your parents’ house. In the event you need to sell your parents’ house before death, give us a call at 231-392-3262. We would love to answer any questions about the house selling process that you might have.