Our Approach to Real Estate Services for Seniors and Their Children
Over the last 20 years, we have had the good fortune to have been involved with many different types of real estate transactions, and through this, we have developed expertise in helping seniors and their children. These types of projects are immensely gratifying and enjoyable for us. Here is a look at two areas of our work:
Downsizing
Often these moves can be complex and involve many people. “It’s a team effort!” my husband and business partner, Seth Reilly, often says about the process. This is the absolute truth, and we have become experts in helping our clients put their teams together! We will often work alongside professional organizers, financial planners, tax advisors, and local senior housing specialists to support our clients throughout this process.
The first step is to help our clients and their family members explore all options, some of which don’t involve selling their home at all.
We discuss questions such as,
- Is moving necessary, or could you adapt your current home to meet your needs?
- Could you continue to live at home if you hire in-home care and assistance?
- Could you access equity through a cash-out refinance or reverse mortgage to offset in-home care costs?
- If you do decide you need to find a new home, do you need to sell your home, or could you keep it and rent it out?
When your family is involved, we keep them informed every step of the way. Sometimes a family member or professional has been given Power of Attorney to act on your behalf. We are accustomed to working under all circumstances!
Don’t worry if your home is a little out of date or in some level of disrepair. We are very experienced in assessing each situation and advising our clients on their choices, from selling “As-Is” to making repairs and updates prior to selling. We will create a custom solution based on your unique home and situation.
Inherited Homes
Deciding what to do when you have inherited a home is a complicated matter that is often accompanied by overwhelming and stressful feelings. Our team has a wealth of experience in supporting our clients who have inherited one or more properties, either locally or out of the area. We recognize that it takes a collaborative effort, and we can assist you in building a team that meets your specific needs.
When weighing whether to keep or sell a home you’ve inherited, you’ll want to run your options by a qualified tax advisor. In preparation for this meeting, we can equip you with helpful information such as proceeds calculations, cost sheets, and succession appraisals. You’ll likely also need to speak to someone who can help you administer the estate, such as an Estate Attorney or a Professional Fiduciary, and we are happy to help make these connections as well. When it comes time to sell, we have experience with both trust and probate sales - We understand the complexities and nuances of each.
Using a collaborative and pragmatic approach, we are able to work successfully with co-trustees and families, even when families are experiencing disagreements and stress about how to proceed. We are here to provide information and insight on all the options to make the process smoother for everyone during a difficult time.
If you have any questions for us, we offer free consultations and would love to hear from you.
Warmly,
Kirsten Reilly, Broker Associate
(408) 835-2962
Compass | DRE#01383856
