• Financial Planning Do's & Don'ts in Today’s Economic Crisis
• Financial Planning: What Those Professional Designations, Credentials & Titles Really Mean
• Who Can You Trust for Financial Advice?
• Advice for Seniors: Managing the Financial Market Turmoil & Economic Crisis
• Seniors: When is it Time to "Let Go" of Control?
• The Real Cost of Reverse Mortgages
• Fund Unexpected Elder Care Costs with Your Personal Resources
• Paying for Senior Care with the Inheritance
• Lessons I Learned after My Father’s Death
• Thinking of Selling Your House? Read this First!
• How Much Can You Save with Advance Planning?
• How to Pay for Long-term Care without Breaking the Bank
• What’s in Your Parent’s Wallet? (And What That Means for You)
• Financial Planning for the Elderly: Assisting Clients & Their Caregivers
• Financial Planning for the Elderly: a Personal Perspective

COMMENTS
5 Responses to “Thinking of Selling Your House? Read this First!”

1. Lisa Dunn Says:
   

   Hi Suzanne,
   Nicely done! It takes a team to help elders move successfully, and if there are health considerations it's even more important that the right people are involved. With the right advice, seniors can save an untold amount of money and a *lot* of unneccesary stress! I've dedicated my blog to this topic; hope you'll visit it.

2. Luba Muzichenko Says:
   

   Once a senior does decide to sell their house, they need to be sure to pick a Realtor they can trust to handle the transaction. I recently heard a horrible story about a senior trying to sell her home in a slow market. The house was sat on the market ... and the Realtor approached the client and offered to buy the property for $140,000, but with only $10,000 and $625 a month until the $140,000 is paid off. And he coincidently owned an apartment that he would rent to her for $625 a month. AND he wanted his commission which was to be deducted out of the $10,000 that he was "giving" her as a downpayment.

   Not all real estate agents are predatory, but they are out there. The best way to find one that isn't is through a referral from a friend or family member. Picking the right agent, especially in a slow market will be the key to a sale where the seller's interests are truly represented.

3. Jerry Bartholomew Says:
   

   Another consideration for seniors is that the sale of a home converts an exempt asset (the house) into a non-exempt asset (cash) for purposes of long-term care Medicaid. The sale of a house should be considered carefully from an estate planning point of view.

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