Senior Real Estate Sales Advisor

Review Home Sale Services

Services included in Senior Service Home Sales

• Initial Consultation with a Real Estate Agent:

  • Discuss selling goals, timeline, and expectations.

  • Agent provides an overview of the selling process.

• Property Evaluation and Market Analysis:

  • Agent conducts a walkthrough of the home.

  • Agent researches comparable recent sales (Comps).

  • Agent provides a Comparative Market Analysis (CMA) to determine market value.

• Developing a Pricing Strategy:

  • Seller and agent collaborate to set the listing price.

  • Discuss different pricing approaches.

• Sell for Cash or Public Offering

  • Listing and Selling the property on the Open Market

    1. Most of the time, I recommend selling on the open market.  This process can take some time unless the property is priced at or just below market.  Pricing and condition of the home are key to moving the property quickly 

  • Cash Offer for a Quick Closing

    1. This is a quick way to sell in the event of a hardship.  

    2. I'll provide a cash as-is offer along with a Net to Seller sheet so you know upfront how much cash you have to use.

• Preparing the Home for Sale:

  • Seller undertakes necessary repairs and improvements.

  • Decluttering and depersonalizing the home.

  • Potentially staging the home for better appeal.

• Signing the Listing Agreement:

  • Seller and agent enter into a legally binding agreement.

  • Outlines commission, listing period, and responsibilities.

• Marketing and Promotion by the Agent:

  • Professional photography and/or videography.

  • Creation of listing descriptions and marketing materials (flyers, brochures).

  • Listing on the Multiple Listing Service (MLS).

  • Online marketing (websites, social media).

  • Offline marketing (signage, open houses, networking).

• Showing the Property:

  • Agent schedules and coordinates showings with potential buyers and their agents.

  • Seller typically vacates the property for showings.

  • Agent may conduct showings or provide access.

• Receiving and Reviewing Offers:

  • Agent presents all offers to the seller.

  • Seller and agent discuss the terms and conditions of each offer.

• Negotiating Offers:

  • Seller, with the agent's guidance, negotiates price, closing date, contingencies, etc.

  • Counter-offers may be exchanged.

• Accepting an Offer:

  • Seller agrees to the terms of a specific offer, creating a binding contract.

• Managing the Closing Process:

  • Opening escrow.

  • Buyer conducts inspections (home, pest, etc.).

  • Property appraisal by the buyer's lender.

  • Negotiations based on inspection findings (if any).

  • Seller works to clear any title issues.

  • Final walkthrough of the property by the buyer.

  • Signing of closing documents by the seller.

  • Transfer of ownership and funds.

• Moving Out:

  • Seller vacates the property by the agreed-upon date.

Key Characteristics of Traditional Home Sales:

• Involvement of real estate agents representing both the seller and the buyer.

• Property is listed on the open market and actively marketed to a wide range of potential buyers.

• Negotiations between the buyer and seller (or their agents) determine the final sale price and terms.

• A formal contract outlines the obligations of both parties.

• A closing process involving escrow, title companies, and often lenders.

• Typically takes a longer time frame compared to other sale methods (e.g., cash offers, iBuyers).

• Seller is responsible for preparing the home for sale and allowing showings.  Remember to clean and declutter.

Purchase a New or Second Home

Purchase a more affordable home using a Reverse mortgage so you have no payments and more liquid cash.

New Home

• If downsizing or relocating, selling your home and purchasing another one, there are many options

  • Traditional financing requires qualifying based on the borrower's income and expenses, with monthly mortgage payments that are typically made.  This works well for individuals who can afford the added expense.

  • Reverse for Purchase Option

    • A reverse for purchase option allows homeowners to sell their existing home and purchase the new home with a mortgage that requires no monthly payments and, in some cases, can include taxes and insurance.

    • This option helps borrowers to access more of their residual income without the expense of a mortgage payment.

    • This type of loan provides a lump sum for the purchase of a home.  Buyers usually need to make a substantial down payment.  

  • New Purchase is more than the sale of the prior home

    • Seniors can use the proceeds from the sale of their prior home as a down payment.  If there is not enough proceeds other qualifying sources may be used.   

Second Home

• Buy a second home without having to pay a mortgage by using the equity in your primary home, and have no mortgage payments

  • A Reverse Line of Credit on a primary home can also be used to purchase a second home.

• Traditional mortgages can be used to purchase a second home, but do require monthly mortgage payments. 

Using a Reverse Mortgage to Purchase Your Next Home

Foreclosure or Short Sale

• Reverse Mortgage: When expenses become overwhelming to care for a home or mortgage payments become too high, a reverse mortgage can be a great option.

• If a borrower is in default a reverse mortgage can be potentially used to avoid foreclosure and may also be used for a short sale.