Alzheimer’s disease can’t be treated, slowed down, or even prevented. If your parent is diagnosed with this disease, it might cause a slew of issues for you. You’ve been tasked with locating adequate accommodations and care for your loved one while also dealing with the financial realities of such treatment and housing. You may have to sell your parents’ home if one or both of them become handicapped due to Alzheimer’s disease or dementia. Selling the home can provide funds to help provide for their care.
There are likely many questions you have when faced with this difficult dilemma. We have tried to anticipate some of the most likely questions and provide some guidance. We are here to help if we can. We would also suggest this great resource in the Greenville area for those dealing with a relative who has Alzheimer’s and dementia.
What Rights Do I Have When Selling My Elderly Parent’s Home If They Need The Money For Care?
If a loved one has Alzheimer’s disease and you need to pay for their care, you may be wondering if you have the legal right to sell a home. The bottom line is that only the owner of the property can transfer it to a buyer. If your parent has become disabled, a power of attorney is the only way to act on their behalf in order for the sale to go through.
Even if you have been appointed as your loved one’s power of attorney, the courts will still be engaged. Each step of the process must be approved by the court to ensure that you are not exploiting your loved one. When you wish to sell your house, you must file a petition with the court and ask the judge to give you permission to do so. You must next ask the court to sanction payments from the house proceeds to the nursing home, assisted living facility, or caregiver.
It’s vital to remember that you won’t be able to petition the court for permission to sell the house until you have a written contract. As a result, be certain to specify in the contract that the sale is subject to judicial approval. After you and the potential buyer sign the contract, you can file it with the court, and a judge will decide if you can sell the house under the conditions.
What If My Parent Still Is Able to Give Me Power of Attorney To Sell Their Home Before Their Alzheimer’s Gets Too Bad?
If your parent appoints you as their power of attorney before they lose mental capacity, it will be considerably easier to sell the house if they become disabled. If you and your parent have a good trust relationship, you can work with them and a good lawyer to get the power of attorney set up. This is not a task you should attempt on your own. A lawyer specializing in elder law should be consulted and engaged. You can find some helpful guidance and legal documents for care-givers of Alzheimer’s patients here.
My Parent Has Alzheimer’s or Dementia And I Have Power Of Attorney to Sell Their Home. Now What?
If you are in a situation to sell your parent’s home to help them pay for assisted living or nursing home care, there are several tasks ahead of you in order to sell the property in Arkansas. Here are some of the most important steps you can take immediately.
1. Preparation Of The Property
You will want to conduct prep work unless you are selling your house as-is to a professional home buyer, which we will explore further later. Our second tip for selling your Arkansas house cheaply focuses on modest fixes that might make the property more appealing to purchasers, which may sound counterintuitive. First and foremost, bear in mind that your house will be showcased online in high-quality digital photographs, so make sure it’s clean and bright before taking any photos. At the absolute least, fix any visible damage. Then give the interior and exterior walls, as well as any fencing or outbuildings, a fresh coat of paint, and keep the grass and shrubs clipped short. Power washing your driveway and sidewalks is a low-cost technique that has a big impact on how potential buyers see your home. Finally, ensure that the garage and other storage facilities are clutter-free, well-organized, and only half-filled. Remove any bulky furniture that may be crowding the room and put the majority of your belongings in a temporary storage facility. Here are more options when selling a property in Greenville.
2. Get Your Showings Ready
Another way to get a decent price for your home is to make it available for showings as soon as feasible. Buyers will go on to the next property if they can’t see yours. It’s a good idea to have a plan in place for hiding any signs of pets and making arrangements for them to be somewhere else during the showing. If you are using the services of a realtor, talk with them about any difficulties you foresee with having home showings if your elderly parent cannot leave the property. Make sure you have a realtor that will understand this difficulty and work closely with you and your loved one. Showings can often be a real difficulty for the elderly who are struggling with dementia. Having strangers in the house can be very alarming to them and taking them out of the house can also pose a significant struggle.
3. Be Willing To Bargain
Try to keep your emotions in check during talks when selling your Arkansas house in a situation like you are in. It’s important to remember that the people you attract are trying to obtain the best deal possible, and that their offer may come across as harsh to you if it appears to be too low. Running market comparisons with a reasonable price range, on the other hand, can help you escape this unpleasant predicament. The selling of your property is a tricky scenario to negotiate especially if you are under stress. Prepare yourself and learn everything you can about how to negotiate the sale of your property.
4. Think About Hiring a Professional Home Buyer.
Upstate Home Buyers are professional home buyers who can work with you and your loved one to help you avoid all the hassles needed for a traditional sale mentioned above. Our team is caring and compassionate. It is our goal is to help you sell your home for the highest possible price. Furthermore, the knowledgeable buyers at Upstate Home Buyers will tell you how much money you can expect to make by preparing and selling your home, as well as how much money you may make by selling as-is to Upstate Home Buyers. You might avoid all of the fuss, receive a good deal, and walk away from the closing table with cash in hand just a few days after meeting with us! This can be a huge help to you in this difficult situation and time of life. Are you interested in learning more? Upstate Home Buyers can be reached at 864-300-4857.