Downsizing Tips for Seniors: Selling Your Family Home
If your parents are considering downsizing and want to sell their home, here are some steps you can follow to help make the downsizing transition as stress free as possible.
Keep in mind that in most cases the downsizing process is a family affair and a variety of discussions occur leading up to the listing of the property.
First, discuss your parents’ goals and preferences for selling the house.
Ask them what they wants to achieve through the sale and what they would like to do with the proceeds. This will help you understand their motivations and make the process as smoother.
Next, determine the value of the house.
A real estate agent can help you determine the fair market value of the house, which will be used to set the listing price.
Prepare the house for sale.
Depending on the condition of the house and the local market, you may need to make some repairs or improvements to increase its value and appeal to potential buyers.
Hire A Specialist
Hire a real estate agent that specializes in working with baby boomers and seniors that are considering downsizing. A real estate agent who is experienced in selling homes in your area can help you market the property and find the right buyer.
List the house for sale.
Once the house is ready, your real estate agent will list it on the market and begin promoting it to potential buyers.
Declutter and Organize
One of the biggest obstacles with anyone thinking about selling their home is how to tackle packing, clutter, beloved items and items that need to be donated or put out on the curb for bulk day. (I have a great declutter guide for you to help you navigate and break down what you need to do, so you are not overwhelmed.)
Review offers and negotiate the sale.
Your real estate agent will help you review any offers that come in and negotiate the sale to get the best possible price for the property.
Close the sale.
Once the sale has been negotiated and all legal and administrative requirements have been met, the house will be transferred to the new owner and the sale will be finalized.
After the sale is complete, you can assist your parents with downsizing and moving to their new home, whether it’s a smaller house, an apartment, in with you or a retirement community.
For more information on seniors downsizing check out this article! If you have inherited a property check out this article on probate real estate in Florida!
About Michele Bellisari
Michele Bellisari is the founder of #SoooBoca® Lifestyle & Media based in Boca Raton and a Realtor with Real Broker. If you are thinking of buying or selling real estate in Boca Raton and any of the surrounding cities let her help you out! Thinking of purchasing a vacation home? Michele blogs, vlogs, posts and shares all things Boca Raton, South Florida & Beyond from events, people, food, travel, home decor, fashion, beauty and real estate! You can find more at www.soooboca.com and on all the socials @soooboca. Information in this post should be verified with your accountant, attorney and or financial planner as well as the state of Florida. Information in posts should be verified independently. Information deemed reliable, not guaranteed.
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