Let’s face it, losing a loved one isn’t easy. That statement can be especially true when that loved one is your parents. Making the decision to put a parent in assisted living or a nursing home isn’t easy either. In this article we will discuss the ups and downs of “Selling Parents House”. This can be an emotional rollercoaster and these ideas could help.
Selling a Parents House: Before Death
Do you have a parent that is having trouble caring for themselves? Putting them in a home or into assisted living might be the only option. Maybe they are just having trouble keeping their home up. Even staying on top of repairs for the home is difficult for anyone these days.
Selling a Parents House: Nursing Home
Deciding that selling your parents house while they are still alive is a difficult one. If you are looking at placing them in a nursing home be sure to get references on the homes. Check out reviews for the places that you are looking at placing them in. Discuss the option with family and friends that live in the area. Word travels fast and you want to make sure you are making the right decision.
If you are financially able to, keeping your parents’ home for a month just to make sure you made the right decision might help.
It’s a Tough Decision: Selling A Parents House
A lot of work goes into making this decision of moving a parent to a new location. Whether it be your home, a siblings home, a nursing home or assisted living. There are many things to take into consideration. Pets in the home will need to be rehomed. Plus, all the belongings in the home will need to go as well. So make sure you are prepared to take on the big job of selling a parents house and that you have help.
Items Inside the Home
After going through all the items in the home you may not have a need for some of the items. If the items in the home are unwanted you can call a local donation center such as Salvation Army or Goodwill. These donation centers have large trucks, and they can come and haul these goods away.
Selling a Parents House: “AS IS” Condition
Once you have placed the parent in a home and everything is working out you will need to focus on selling your parents house. Your first step will be to declutter the home. Get rid of all personal belongings either through donation or gifting them to family members. There is always the option of selling many of the items as well. Facebook Marketplace is a great area to list unwanted items.
If possible leave the couches, if they are in good condition and tables. You will want to stage the home so that the new owners can imagine living there. Some items in the home help to showcase the home better. Beds and dressers in the bedroom area will also help, if they are in good clean condition.
Does the Home Need Repairs: Selling a Parents House
Your next step will be to decide if the home needs repairs. Is the carpet in bad condition? Are there large holes in the walls? Or does the home just need a good cleaning? Hiring a cleaning person to come in and give the home a full cleaning before selling never hurts.
Placing scented air fresheners throughout the home will give it a fresh smell. You can get air fresheners from the dollar stores quite affordably. Pick up 5 of them and place them throughout the home.
Selling a Parents House: Power of Attorney
Before selling the home you will want to figure out who is on the deed or title to the home. Don’t wait until the last minute to figure this step out. If you find out that someone is on the deed with your parents it may take some time to remove that person. This can delay a sale of a home by months.
If you have siblings or family on the deed or title you will need to have a discussion with them. Anyone mentioned on the title or deed has a right to the property.
Sometimes you need to get a lawyer to help with finalizing paperwork for a home. This is not a bad idea especially if there are people on the deed or title that are no longer in communication with each other.
Appraisal for the Home
It isn’t a bad idea to get an appraisal for your home. You can call a local appraiser to come and give you an estimate on the home. They typically charge a few hundred dollars for this process.
If your parents own a mobile home you can get a value report here. This is a printable full color report that you can take with you to a lawyer or use for court.
Selling Parents House: After Death
Inheriting a home can be a sticky situation. If the home that you inherit is a mobile home you will simply need to find the title to the home. Hopefully the title is signed, and you have no other siblings so you can sell the home. However if you discover the title is not signed you may have to contact a lawyer. This would also be the case if you have sibling that might have an interest in the home.
Regular stick-built homes have deeds and almost always must go through probate unless there is a lady bird deed or trust that was established.
If you have a mobile home that you are looking to sell visit our article Sell My Mobile Home
Rent or Sell My Parents House
Another option that you might consider when deciding to sell your parents home is to rent their home. Renting the home will give you time to decide what to do with the home. It can also give you a nice income or side hustle. Just make sure you screen the tenants well and you get references. Sometimes renters don’t treat your home the way you would. For more information visit our blog on Renting a Mobile Home.
Shutting Off Utilities
Not only will you have to sell the home but when someone finally purchases the home you will have to shut down all utilities to the home on the agreed upon date. Make sure to contact the electric company, satellite TV, internet, and trash company. You do not want any bills coming in under your name after the home has changed ownership.
TIP: Be sure to contact the local post office to tell them of the change of address as well.
Ad For Selling a Home
When you get to the point of actually selling your parents home there are some things you will want to do. First and foremost put a sign in the yard stating that the home is for sale. If your home is a mobile home put a sign in the window. Let’s face it neighbors talk and they may know someone who is looking for a home in the area.
Do you have a mobile / manufactured home and you want to know just what it is worth? Visit our blog How Much is My Mobile Home Worth?
Selling a Parents House: to Pay for Care
Sometimes you need to sell your parents home to pay for long term care. Some nursing homes will not allow a your loved one to have large assets. Consulting with a lawyer may be a smart decision in this case.
How Long Do You? Selling a Parents House After Someone Dies
A mobile home can sit on a lot in a park as long as the lot rent is paid. The park may want to put someone on the lease agreement but if you are looking to sell within a month or two you should be fine. Just make sure you pay the lot rent.
If you have a stick built home you will want to keep the insurance and taxes current on the home. Either way you should have plenty of time to get your ducks in a row to sell the home.
Selling a Parents House: Conclusion
In conclusion, selling a parents house can be hard but it can be harder to sell a home of a loved one that has passed. Moving isn’t easy either way but hopefully this article has given you tips and ideas of how to make the process easier.
FAQ’s: Selling a Parents House
When should I sell my parents house?
The timing for selling your parents’ house depends on your specific circumstances and goals. Factors like market conditions, financial needs, and your parents’ wishes should be considered when determining the best time to sell.
How do I prepare my parents house to sell?
To prepare your parents’ house for sale, start by decluttering, cleaning, and making necessary repairs. Consider staging the home to enhance its appeal to potential buyers, and work with a real estate agent for guidance on pricing and marketing.
Can I inherit my parents house while they are alive?
Inheriting your parents’ house typically occurs after their passing, through their will or estate planning. While it’s possible to receive a gift of the house while they are alive, this may have financial and tax implications, and it’s essential to consult with legal and financial professionals.
Is it better to hold on to your parents house or sell it?
Whether to hold or sell your parents’ house depends on your financial situation, goals, and the condition of the property. Consider factors like ongoing expenses, potential rental income, and your long-term plans to make an informed decision.