Alzheimer’s disease cannot be cured, slowed, or even prevented. If a parent is diagnosed with this disease, it can result in a slew of complications for you. Perhaps you have been tasked with the responsibility of securing adequate housing and care for your loved one while also managing the financial implications of such treatment and housing. If one or both of your parents become disabled as a result of Alzheimer’s disease or dementia, you may be forced to sell their home. Selling the home can generate funds to assist with their care.
When confronted with this perplexing situation, life can be very stressful and daily decisions become difficult much less decisions about selling a home. We have attempted to give some quick input to help. We are here to assist you in any way we can. Additionally, we would recommend this excellent resource in the Pittsburgh area for those who are caring for a relative who has Alzheimer’s or dementia.
What Rights Do I Have If I Sell My Elderly Parent’s Home To Pay For Care?
If you have a loved one who has Alzheimer’s disease and you are responsible for their care, you may be wondering if you have the legal right to sell a home. The bottom line is that only the property’s owner may sell it to a buyer. If your parent has become disabled, the only way to act on their behalf is through a power of attorney. Here is more information about power of attorney laws in PA.
Even if you have been appointed as a power of attorney for a loved one, the courts will remain involved. The court must approve each step of the process to ensure that you are not exploiting your loved one. If you wish to sell your home, you must file a petition with the court and request permission from the judge. You must then petition the court to authorize payments to the nursing home, assisted living facility, or caregiver from the house proceeds.
It’s critical to remember that until you have a written contract, you cannot petition the court for permission to sell the house. As a result, ensure that the contract specifies that the sale is subject to judicial approval. After you and the prospective buyer have signed the contract, you may file it with the court, and a judge will determine whether you can sell the house under the terms.
What If My Parent Is Still Able to Give Me Power of Attorney To Sell Their Home Prior to Their Alzheimer’s Getting Too Severe?
If your parent names you as their power of attorney prior to losing mental capacity, selling the house will be significantly easier if they become disabled. If you and your parent have a strong bond of trust, you can work with them and a competent attorney to establish the power of attorney. This is not a task that should be attempted alone. Consult and retain the services of an elder law attorney. Here, caregivers of Alzheimer’s patients can find some helpful guidance.
My Parent Is Suffering From Alzheimer’s or Dementia, And I Have Power Of Attorney To Sell Their Home. What Happens Now?
If you are in a position to sell your parent’s home in order to assist them in paying for assisted living or nursing home care, you will need to complete several tasks in order to sell the property in Pittsburgh. The following are some of the most critical actions you can take immediately.
1. Property Preparation
Unless you are selling your home as-is to a professional home buyer, which we will discuss further later, you will likely need to make some repairs or remodels to the property. Focus on minor repairs that may increase the property’s appeal to buyers. To begin, keep in mind that your home will be showcased online via high-quality digital photographs, so ensure that it is clean and bright prior to taking any photographs. At the very least, repair visible damage. Then repaint the interior and exterior walls, as well as any fencing or outbuildings, and maintain a neat lawn and shrubbery. Power washing your driveway and sidewalks is an inexpensive technique that makes a significant difference in how potential buyers perceive your home. Finally, keep the garage and other storage areas clear of clutter, well-organized, and only halfway full. Remove any oversized furniture that may be crowding the room and temporarily store the majority of your belongings in a storage facility.
2. Prepare for Your Showings
Another strategy for obtaining a reasonable price for your home is to make it immediately available for showings. If buyers cannot see your property, they will move on to the next. If you are working with a realtor, discuss any difficulties you anticipate with having home showings if your elderly parent is unable to leave the property. Ascertain that your realtor understands this difficulty and will work closely with you and your loved one. Showings can frequently be a significant challenge for the elderly who are living with Alzheimer’s. Having strangers in the house can be extremely frightening for them and removing them from the house can be a significant struggle as well.
3. Be Prepared To Bargain
Maintain control of your emotions during negotiations when selling your Pittsburgh home in a situation similar to yours. It’s critical to keep in mind that the people you attract are seeking the best deal possible, and their offer may appear harsh to you if it appears to be too low. On the other hand, conducting market comparisons within a reasonable price range can assist you in escaping this unpleasant situation. Selling your property is a difficult situation to negotiate, even more so when you are stressed. Prepare yourself by acquiring as much knowledge as possible about how to negotiate the sale of your property.
4. Consider Using the Services of a Professional Home Buyer
717 Home Buyers are professional home buyers who can work with you and your loved one to avoid all of the above-mentioned hassles associated with a traditional sale. Our team is compassionate and caring. Our goal is to assist you in selling your home for the best price possible. Additionally, the knowledgeable buyers at 717 Home Buyers will inform you of the profit potential of preparing and selling your home, as well as the profit potential of selling as-is to 717 Home Buyers. Here are 8 ways to find a great professional home buyer business.
You could avoid all of the drama, negotiate a favorable deal, and walk away from the closing table with cash in hand just a few days after meeting with us! This can be a tremendous help to you during this trying time in your life. Are you curious to learn more? You can reach 717 Home Buyers at 717-639-2164.
About Josh Eberly
A native of Lancaster County, Josh’s roots run deep in his commitment to this community. He especially enjoys helping people find solutions through real estate. Josh is a seasoned investor with experience in many sides of buying and investing in real estate. Josh enjoys reading, listening to podcasts, digital marketing, and hanging out with his family. Feel free to connect with him here.