McClelland Minute - June 28, 2009

When a Loved One Needs to Move – Part Two

Last week we discussed preparing an appropriate transition plan for an elder from independent living in a single family home to a suite or condo.  Today, I will discuss some of the options that should be considered when marketing the property.

Personally, I like to place the home up for sale only after the move has been made and all the contents are removed.  Yes, I know this flies in the face of what you may see on Home and Garden Television, but our first concern should be the health and safety of the owner.  First, if the owner is applying to a seniors’ residence it may take months before space becomes available.  Secondly, I really don’t want the seller and buyer to meet.  Let me explain.

The owners have likely lived in the home for several decades.  Asking them to leave while a viewing takes place just may not be feasible.  Comments on its condition or decoration by a prospective buyer during a showing may prove upsetting, even offensive, to the seller.  Some buyers will try to take advantage of an elderly seller. Worst yet, a buyer may come back a few days later without the Realtor, and attempt to pressure the seller into accepting a low ball offer.  Yes, this does happen.

There was one situation however where a buyer attempting to do just that got quite a surprise.  He was a young man and knew the seller had the reputation of having a “dry throat”.  So he showed up on the doorstep with a 40 ounce bottle of rum, which they proceeded to drink together.  However, the seller proved to be more adept at negotiating under the influence, and after consuming most of the buyer’s gift, struck a most favourable deal.  The next morning they both attended my office, somewhat worse for wear, but ready to commit ink to paper!

Our group has had good success in the past with combining a household goods auction sale with a reserved auction of the lot and house.  We usually host an open house a week or so before the auction date, to allow prospects a chance to see the property and then prepare their finances.  Sometimes, we even see potential buyers bidding that we did not know were actively seeking a property of this nature.

The tender process is also an alternative, but personally I think it is best suited to bare land.   I prefer to use the reach of the Multiple Listing Service.  A decent property, priced appropriately, and for which a quick possession is possible, may be quite attractive, particularly to the first time buyer.

Whatever approach the seller chooses to use, there needs to be respectful dialogue on the goals and frank discussion about the steps to achieving them.  In some cases, the process can actually create more open communication than has been present between family members for years.  Much better, in my opinion, that all stakeholders have the opportunity to participate, rather than being forced to make quick decisions because of a health event or death.

Vern McClelland is associate broker with RE/MAX of Lloydminster.  If you have questions or comments on this article or other real estate matters, he can be reached at 780.808.2700 or through the McClelland Group website www.mcclelland.ca

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