When Seniors Down Size:
Financing the Move

Life has its seasons, and they sometimes bring extraordinary demands. When seniors downsize or move from their homes to assisted living, families often face the issue of financing their stay. This may involve selling the residence. If you are facing this situation, we can assist you with a variety of transition services.

Managing properties such as these can be challenging, due to unavoidable realities:

  • Logistics: Family members may live miles away.

  • Time: Many do not have the time necessary to prepare the property properly. They have their own families to attend to, not to mention employment, business, religious, and community obligations.

  • Emotional adjustment: Families are working through the adjustment process. This may be compounded by their parent’s new living arrangement and other transitional disruptions.

  • Condition of property: Properties may have deferred maintenance issues and present poorly to the market.

  • Aesthetics: These properties may also have generational issues. Functionality and aesthetics often fail to meet current market requirements, pulling down the property’s value.

  • Perceptions: Most buyers of real estate lack creative vision and tend to focus only on a property’s negatives.

  • Need for closure: Families often want a prompt solution.

  • Labeling: The public often carries the perception that these properties should be discounted due to condition or situation. Similar properties on the market may simply show better, thus discounting the value of the property.

We will address these challenges. Turning Point Management will act on your behalf to optimize the potential of real estate and other physical assets.

If any one or more of these realities speak to your current situation, be sure to review the “6 steps to closure.”

Six Steps to Closure

Turning Point has developed a six-step approach to achieve closure.

STEP 1

Assess Your Needs

Turning Point’s Senior Management will schedule a meeting at the property to assess your needs. We will:

  • Walk through the subject property

  • Discuss your ability to sell the property at this time

  • Review your overall needs

  • Develop an approximate timeline

STEP 2

Exchange Information

  • Present our estimation of the property’s value

  • Recommend a Property Preparation Plan

  • Set an agreed-upon asking price

STEP 3

Secure and Maintain Property

Turning Point will oversee a number of maintenance details if you need them. For example:

  • Change locks and secure property

  • Install security lighting

  • Act as primary contact for alarm calls

  • Handle weather-related emergencies

  • Contract for services such as lawn care, pool maintenance and snow removal

  • Conduct regular property inspections

STEP 4

Enact Property Preparation Plan™

To optimize your property’s potential in current market dynamics, Turning Point will execute your personalized Property Preparation Plan. In accordance with your specific needs, we will:

  • Inventory contents of the property

  • Pack, ship, store, donate or dispose of contents as indicated

  • Make necessary repairs and improvements

  • Clean thoroughly

  • Stage interior and exterior

  • Provide regular repair and maintenance reports

STEP 5

Monitor Market Activity

Turning Point will market your property to the real estate community and general public. In this role, we will:

  • Conduct open houses

  • Execute sales campaigns via the Multiple Listing Service, print and online advertising

  • Develop and distribute marketing brochures

  • Provide regular market activity reports

Upon receipt of written offers, Turning Point will:

  • Provide professional recommendations

  • Prequalify potential buyers

  • Negotiate on your behalf

  • Provide access for inspections

STEP 6

Achieve Closure

Prior to closing, Turning Point will focus on the important remaining details:

  • Oversee and coordinate contract signing and closing

  • Arrange for removal of remaining contents

  • Submit our final accounting to closing attorney

  • Attend the closing to address any last-minute details