It can take awhile for a senior to make the decision to sell their home, but once they decide to move forward, they just sign the listing agreement, right? Not necessarily.
A major life-changing event like this is often greatly influenced and even controlled by family members, health professionals or trustees.
Respecting the rights of the homeowner are first and foremost when talking with a senior. We start with the premise that they are in control of the decision to sell. It’s also vital to know the motivating factors and who else is involved in this senior’s transition out of their home.
Carefully explore the family dynamics by including the following in your conversation: (see our previous post for more tips) http://downsizemyhome.biz/moving-elderly-r…o-make-it-easier/
Know Who is Legally Responsible
The senior homeowner may or not recall that they have placed their home in a trust. They may or may not recall that they signed over Power of Attorney to one of their children. When it comes to legal documents, they may not know where the paperwork is to provide written legal status. It’s important to clarify the legal property rights so you know who should truly be signing the listing agreement.
A little extra research can help avoid a messy situation:
If someone other than the homeowner has a POA, it’s important to know which type. When transferring property, most states require a certain type of Power of Attorney. Here’s a link to an article that explains the 4 different types of POA and how they are used.
Guiding your clients and their families through this huge life transition is what being a Trusted Advisor is all about!