When It’s Time To Sell A Family Home
One of the most challenging experiences that most families encounter at one point or another is having to sell a home following the death of a family member or after an elderly relative is moved into an assisted living situation.
At James A. Cochrane Inc. we encounter this scenario often and we consider it a privilege to walk with families through this process and help make the transition as smooth as possible.
When it comes time to sell a family home past clients have told us that organization is key. Assigning one person to be the point person in managing and discussing the real estate issues was critical in the case of one of our recent clients.
We recently assisted the “M” family from the beginning to end of this process after they moved their aging mother who was suffering from dementia into a nursing home. The family had owned the home for over 20 years and initiating the task of cleaning out and getting the home ready to sell could have been a rather overwhelming one, not to mention adding to that having to find homes for various animals. The Cochrane team came alongside right from the onset, recommending things to be done so that it would sell as quickly as possible. Carefully curating what things should be kept and what things need to be disposed of is a large task and in this families case, Bill Cochrane, the listing agent, was able to recommend furniture appraisers who could come in and help the family figure out what items were worth financially speaking. Items that were not deemed of value to the family were donated locally.
One of the daughters, who lived locally, was appointed the point person in handling the real estate transaction. She said that being organized was one of the keys to a successful and harmonious sale of a family home, she took notes on every room of the home noting any repair, clean up or maintenance that needed to be done and shared these notes with siblings that lived all over the country. She honored her mother, their family home and her siblings by being accountable to each throughout the process. She also made sure that most of the smaller things were cleared out right away, that minor repairs were done and the whole home cleaned.
In the meantime, two appraisals of the property done before the home hit the market. This, along with the comparative market analysis (CMA) would help the children begin the discussion of pricing the home. This is especially useful when there are various family members making decisions. After reviewing all the information the home was priced well and sold within a month, alleviating the stress that can come when a home is on the market for a lengthy amount of time.
Selling a home for a loved one can be stressful but if you surround yourself with qualified and compassionate professionals the process doesn’t need to be.
La Mancha Animal Rescue-The family mentioned above had cats that needed a new home
Ryerss Farm (horse rescue)