Many of you know that my husband and I are looking after my elderly parents and hoping to help extend a good quality of life for them. We recently built them a guest house on their property, and we are moving into the main house so we can be close by.
Many of my clients and close friends are also entering a stage of life where not only are they taking care of their own home and children, they are also responsible for their aging parents. It can often be a daunting task. Dealing with health issues, doctor appointments, assisted living, nursing homes and eventually a loss of life. I understand that no one likes to think about this. I don’t like to think about it and I usually don’t. But I know eventually it will happen and try to be as prepared as possible while enjoying every moment I can.
I recently got a call from a lifelong friend. His mother had passed away several months ago. He wanted advice on what to do with her house. The 3000 sf home was full of stuff that was accumulated over a long lifetime. I recommended that he hire an estate sale company and work on getting some of the stuff cleaned out and sold. I told him after that we could list the house for sale, and this would be the best solution for getting the most money from the property.
Almost in tears, my friend told me how he just didn’t want to deal with this. He shared how his brother recently got out of prison and was currently living in the house. He also explained that there were 2 other heirs who were children of his mothers deceased husband. He told me he understood that he would be taking a discount on the house, but he wanted an as-is offer that would sell quickly and most importantly for him, that he did not have to be responsible for the contents inside and outside of the home. So that is what I did.
All of the heirs and I agreed on a price and I prepared a contract. Since my friend’s mom did not have a will, I introduced them to a title company that was able to prepare heirship affidavits and do the work needed to insure a clear title. Many people believe they must go through probate when a loved one dies and there is certainly nothing wrong with that. It just cost extra money and time that is often times not necessary.
I am happy I was able to help my dear friend. He was so relieved and so thankful to me. I told him I was also very thankful. I know he could have called a dozen other investors, but he wanted me. He knew I would treat his mothers’ things and house with respect, and he knew I would be fair. If you are facing a situation that sounds similar and need help, don’t hesitate to call me anytime. There are typically several solutions and I will help you find which course of actions is best for you.