Tag: Real Estate

This segment describes ways that unscrupulous house flippers and investors can take advantage of seniors. They're looking to get deals, to purchase a property for less than market value. But if you're 80 years old, hard of hearing, with family living out of town, and a flipper visits you using some of these strategies, it's disgraceful. Rebecca Bomann joins Suzanne to provide ways to offset this and protect yourself from these tactics.

This hour focuses on ways that senior homeowners can be taken advantage of during the process of selling their home. This is the sale of their biggest asset to be able to pay for their care for the rest of their life, which they may have lived in for many decades, and the biggest financial transaction of their retirement years. Rebecca Bomann, CEO and founder of SASH Services, joins Suzanne to delve into this important topic for senior homeowners as well as their family members and caregivers.

How should money be spent during a senior loved one's move? It's very emotional and sensitive time, with parents and their adult children having different perspectives and agendas. Adult children are worried about the parents' money lasting long enough for their care. They worry that they might have to mortgage their own home in a few years to pay for their Mom's care. Unless parents have set aside a nest egg, it's a concern because the cost of care is so high that proceeds from a home sale might only pay for care for a handful of years. Sometimes they don't want their parent to sell the home because they expect that home to be there for them when their loved one passes away. Meanwhile, what's best for Mom in her situation?

Who helps Mom through the sorting, packing and moving process? Everyone is well-meaning. Some Moms expect that their adult children will take four months' leave from work to go through every box, glass, and cross-stitch, remembering back to when family did that for each other. Yet many of today's adult children can't imagine how they'd be able to take leave from their job, travel out of state, and pay for a flight to sort through decades of household items – they're overwhelmed by that idea, and it causes tension in the relationship.

Adult children and their aging parents have wildly differing perspectives on moving. This segment builds a bridge to understanding each others' perspectives when it comes to the senior loved one's pet, which befuddles many adult children. Adult children are thinking of a monthly budget, trying to make funds last as long as possible, and are concerned about how that's affected by an animal's daily care, walks, feeding, medication, and vet care. Mom, however, sees the pet as a family member who gives joy, love, companionship, and comfort.

When it's time for a senior loved one's downsizing, their adult children may not quite understand or relate to the parents' perspective earned from living 50 years in their home as they see more pragmatic concerns about home repairs and time-consuming chores, and want to schedule moving deadlines based on available free time. Rebecca Bomann, the CEO of SASH Services, and Suzanne Newman talk about how to do right by our parents while helping them transition from a long-standing residence in their home to senior living.

Continuing from part 3, in this segment Rebecca shares two more low-cost suggestions to maximize your net proceeds at the end of the sale: Add a fresh scent: Apple cinnamon or raspberry, with fragrances that aren't plugged in chemicals that could trigger allergies, a bowl of pot pourri, providing a pleasant scent; and leave while it's listed.

Continuing from part 2, in this segment Rebecca shares more low-cost suggestions to maximize your net proceeds at the end of the sale. Expenses can be paid for by following the tips from part 1: Pressure wash the outside; buy a new welcome mat — a welcoming, modern mat for the front door; clean up the patio; and retro decor is OK.

Rebecca Bomann, the CEO of SASH Services, joins Suzanne Newman to talk about tips to help get your house ready to be sold. Continuing from part 1, in this segment Rebecca shares more low-cost suggestions to maximize your net proceeds at the end of the sale. Any expenses can be paid for by following the tips from Part 1: Take down heavy drapes and window coverings; swap out old and low-watt bulbs for bright new ones; remove family photos and paintings, so prospective buyers will be able envision the home as it might be for them; and do a professional deep cleaning.

Whether you're an empty-nester or looking for a senior loved one who's lived in their house for 50 years, often a move seems like a mountain of a challenge. These low-cost suggestions will maximize your net proceeds: Part 1: pack first; sell some things.