SENIOR PARENTS AND THEIR FAMILY HOMES

People want to stay with their family as far as it is feasible even when they age.

 

With each passing year the tough decision becomes more obvious. If health is taken into consideration, your parents may not be that fit.

 

Gradually you will realize that it is not possible for them to stay at home for long.

 

There could be a number of issues – too large a house to maintain, confusion in old age or fear of accidents.

 

Finance is also a big reason. Things may become economically difficult as taxes rise; maintenance becomes costly along with fuel, dependence on fixed income become impossible.

 

You have a problem now. What is the best way to solve the problem with the house? It is definitely tough task to sell your old house in modern market with buyers demanding the latest.

 

Even after deciding on a buyer, the lender will ask you to take care of the code violations and the necessary repairs before a new buyer is issued a mortgage. Your only option in such a situation would be to have a wholesaler or alternatively a rehabber to buy house.

 

It is better to compare the prices you will get with more than one of them and ensure a hassle free sale. According to our suggestion you can choose buyers ready to purchase the house now and who can give a definite percentage to either you or your parents as a profit after the sale or agrees to pay a small amount per month for few years to acknowledge the property’s price as a wholesale purchase. Your parents would certainly not disapprove.