Informing relevant family of a possible sale and its reasons
Family members can have a strong emotional stake in the sale; some may not want to say goodbye to the home. A family talk about the decision to sell— before signing commitments—can help prevent future misunderstandings and avoid delays in the process.
Having one family member take the lead
When family members are involved in the sales process, it’s best to have one person take the lead in communicating with the your realtor and other professionals; multiple contacts can create confusion and cause delays.
When a family member is acting on your behalf
If a family member—often an adult child—would need the authority to make legally binding decisions regarding the home, a durable power of attorney document must be in place naming that individual to act on your behalf.
Tax consequences of a sale
Selling a home can trigger significant taxation. So, before listing a home, it’s a good idea to consult a tax specialist or professional financial advisor to determine how a sale will affect your finances. Your Realtor can provide you with a list of referrals if you don’t have an advisor.
If you are thinking about Selling and would like more information on how a Senior Real Estate Specialist is different from a regular Realtor. Call me direct at (267) 397-6291 or at the office (215) 395-6277.