Seniors Advantage

The Seniors Advantage 


Assisting Senior Homeowners, Their Families, Powers of Attorney, Executors or Administrators in the Sale of Real Property


If you, your parents or other family members have been in your homes for many years, you may find that there is no place quite so well suited to your needs as your present home. Others long for a change but may feel uncertain or overwhelmed at the thought of moving. Too many folks wait too long and then lack the energy or the focus to make a major change.

We are Russ Boyd and Joan Williams and we are making it our business to address the special needs of senior homeowners as regards their real estate. We have years of experience in all phases of residential real estate, lending and relocation. To assist senior homeowners we have assembled a team of related service providers such as attorneys and elder law specialists, financial and tax consultants, appraisers, estate sale specialists, moving companies, handymen, painters, landscape and cleaning service contractors.

We can assist our clients to relocate to retirement communities, apartments, smaller homes, condominiums, assisted living or nursing facilities. We have the benefit of current time life experience, as we continue to assist Joan's parents and family members with facing difficult decisions as her elderly parents experience failing health while still wanting to live in their family home.
Below is a list of some of the ways we can assist your family.

Consultation

The first step is to consider whether selling your property is an appropriate option for you at the present time. Sometimes our clients simply need more information. Perhaps their friends or neighbors are making changes, causing them to wonder if they should do likewise. They may be questioning the wisdom of a decision either to remain in their home or to sell it; whether to invest additional monies in improvements or to find another home better suited to their long term needs. They may be faced with repeated questions or suggestions from family and friends about what they should do. They may want to move but feel that they cannot afford any of the acceptable alternatives.
Estate planning discussion topics can include retirement plans, estate and tax law changes, wills, probate, living trusts, succession of property and ownership. Consider discussing the various types of living arrangement options, such as independent living, congregate housing, assisted living, nursing homes and continuing care retirement. We have information to contribute to such discussions so that you and your family can make well informed decisions.

Preparation

For those who choose to make a change or who must sell a vacant property, we will evaluate the option to sell the house “as is” versus making a small final investment in the property to improve its salability. If repairs or “sprucing up” are needed, we can arrange for such services on your behalf.

Capital Gains

A "capital gain" in real estate is the difference between the "adjusted basis" of a property and the current sales price. There are exemptions for qualified properties that have been a primary residence. Capital gains taxes for an income producing property can be deferred. Any discussion about selling real estate should include the various options available regarding real estate capital gains.

Financing Options

A Reverse Mortgage is a special type of mortgage available for seniors over 62 that allow the owner to convert a portion of the existing equity into cash. The cash can be made available in a lump sum or paid over the homeowners lifetime. This can be a viable long-term solution to use a homes equity to improve or supplement monthly cash flow. Because of the variables, a lender sponsored counseling session is required.
Another option to be considered for those that want to defer taxes and receive a secure monthly income is selling a home with an installment sale. We can explain the pros and cons of the various financing options available.


Pricing

Long time homeowners tend to undervalue their properties. Family members who may have homes in other parts of the country have no frame of reference for estimating value in our market. It is our unfailing practice to prepare and review in detail with our clients a detailed market evaluation report so that we set the right price for the property.

Marketing

The real estate market has changed tremendously in the past twenty or thirty years. There are changes every year. No longer is it sufficient to put a sign in the yard and an ad in the paper to secure a buyer. Broad exposure using the print media, television, the Internet and the Multiple Listing Service are required to generate interest and offers to purchase. Our sales agreement is an 11 page document complying with all of the rules and regulations for disclosure, inspections, and other terms and conditions of sale. Especially for the inexperienced, the absentee or the elderly seller, professional representation by a firm and an agent of absolute integrity is critical. If showing the property is stressful for the owners, we will take special care to see that their needs are considered by all who visit. If the property is vacant, we will set up a schedule to check the property frequently to make certain that it is secure.

Negotiating

Many of our clients have negotiated all their lives, either professionally or just to get what they need in the course of daily events. However, real estate negotiations are different. There are customs, expectations, and legal issues. There are terms you may need of which you are unaware. Our job as your representative is not only to get you the best price and fastest sale, but to sell the property under terms and conditions which are consistent with your needs. Elderly homeowners sometimes stand firm on principle or simply take the path of least resistance in making a decision. Family members may have conflicting points of view. Those acting under a power of attorney or other such legal authority may feel a heavy burden of responsibility. Whatever the climate, our duty is to act always in our client’s best interest, with sensitivity to all of the various influences which define for that client the best possible terms and conditions of sale.

Moving and Closing

Once the property is under contract we assist our clients in all that must be done in preparation to move and close. We go through a period of meeting the conditions of sale, performing inspections, resolving any repair issues, and securing the buyer’s financing. We manage the task of obtaining and providing the title company all of the exhibits required of the seller in order to close. We monitor the buyer’s activities to insure that he knows and does what is necessary to be able to close as scheduled. If the sellers require assistance in vacating the property, our team is available as needed to facilitate moving family treasures or disposing of unwanted household goods. We make it a practice to review all documents prior to closing as well as attend the closing. Arrangements can be made to wire or deposit the sale proceeds.

How Do We Get Started

We begin with a consultation. We need to have a thorough understanding of your situation, your goals and objectives and your needs. We need to see your home and to have all of the details about it. Then, if appropriate, we will put together a plan for marketing your property so that it sells for the best price. Once your home is on the market, we are at your service daily to manage the marketing of your home. We will keep you informed of the extent and results of our efforts from the day the sign goes in the yard until your home is sold and closed.

If you are in the decision making process right now, please contact us to schedule a consultation.