There has been a significant rise in the number of retired homeowners forced to sell up in a bid to free up capital for residential care, according to Bridgefast Property Services.
The company helps those in retirement to move away from much-loved homes – and is experiencing increased demand for its specialist services.
“Often, the childr
en of those involved find the process more difficult than their parents,” said Director of Bridgefast Property Services, Rob Dolbear.
“Watching a parent grow old can be hard to come to terms with. There is a sudden realisation that those who nurtured and cared for us from infant to adulthood can no longer cope independently.
“Government legislation dictates that those who own their homes must release capital to help fund long-term care. This can be a highly emotional time for many – understandably so. On top of this, there are a number of logistical hurdles to overcome. And that is where we can help.”
Expert advisors at Bridgefast help to make the process as smooth and as stress-free as possible by managing every aspect of a move, from appointing and liaising with solicitors and estate agents, putting you in touch with financial advisors, to sourcing house clearance companies and dealing with removals.
“We are being called upon more than ever to help,” said Mr Dolbear. “This is partly because people are living further away their parents, making it difficult for them to assist and be fully involved.”
“What people do right at the beginning of the selling process is crucial. For example, bad marketing decisions at this stage can be difficult to recover from. For those going it alone, here are a few things to think about.
Tips for selling
- Get valuations from at least two estate agents – and don’t be seduced by the highest. Overpriced homes don’t sell quickly
- Are they being realistic on the amount of time they think it will take to sell the home?
- Look at the properties they already have on their books. How many are under offer?
- Check the quality and presentation of their advertising
- Make sure, at the very beginning, that you are happy with their commission rate
- Get an energy performance certificate for the home
- Choose a solicitor. Look for recommendations. Solicitors with knowledge of the local area are worth looking out for
- Maintain care of the property until it is sold – particularly if it is empty and especially throughout the winter
- Establish where your belongings are going. To your new home? With friends and family? To auction? It is important to obtain valuation appraisals for more valuable items
- Identify utility providers and contact them to close accounts once the property is sold.
