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How Do You Sell Your Parents’ House Before Assisted Living?
Date Updated: July 26, 2024
Written by:
Alicia, a University of Wisconsin-Milwaukee graduate, is a dedicated writer with a strong track record. Based in Los Angeles, she has secured contracts with prominent companies such as Coalition Technologies, Vivial Media in New York, SimpleTense Education, and EatNiketo. Her writing spans diverse clients, including CVS and Cirque du Soleil, and she specializes in senior health topics, covering everything from care to resources.
Reviewed by:
Kristi Bickmann, a licensed Long-Term Care Specialist, represents top-rated "Traditional" & "Hybrid" LTC companies. Serving associations such as the American Nurses Association, she's a licensed insurance agent in 27 states. Specializing in insurance products for seniors, Kristi helps hundreds of families every year protect assets, retirement, and loved ones. She understands aging concerns firsthand, having assisted her own parents. Kristi ensures accuracy on topics about senior long-term care and its consequences.
Selling your parents’ house before assisted living by hiring a real estate agent and gathering the essential documents is a significant responsibility, but with targeted strategies and expert help, the process can be streamlined and stress-free
Hire a real estate agent
To start, choose a real estate agent experienced in working with elderly clients and families who need to sell their homes before transitioning to assisted living. Ideally, this agent should also have expertise in probate or power of attorney matters to provide valuable guidance throughout the process. The better the agent understands your situation and specific requirements, the higher the chances of a successful sale.
Establish the home’s value
Understanding the true market value of the home is crucial. Conduct a professional assessment and work with your agent to consider the local market trends and the home’s condition. Remember, a well-informed pricing strategy can significantly affect the speed and success of the sale, especially in a time-sensitive situation.
Remember, real estate agents earn commissions on the listing and the sale, so consider this in your financial planning.
Gather the proper documents
Efficient document management can expedite the sale. In order to sell the home, you’ll need the following documents:
- Deed
- Lender/mortgage information
- Home insurance
A clear understanding of your parents’ mortgage type can also influence the selling strategy. Organizing these documents in advance will streamline the transaction and prevent delays.