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Know Your E*F*P* Factors -
Three conditions determine decisions people of all ages make every day. As we age, they become even more important. Before I can help any potential seller or buyer, I will ask many questions about many things because each individual situation is unique.
The conditions are:
- Emotional: I need to know how my potential client feels about the move they are contemplating. Is the move wanted, needed, or required? Does the client have the knowledge and/or ability to act on their own? Do others (family, legal, medical or financial professionals) need to be involved? How can I help make the transition easier? No questions are dumb. Don't ever be afraid to ask! If I don't know the answer, I'll find someone who does!
- Financial: Many people don't take the time to evaluate their financial profiles. The lack of knowledge can cause fear, embarrassment and resentment when someone wants or needs to make a move and finds themselves unprepared. To help a buyer, I need only specific information such as the correct affordability bracket to shop. No buyer should ever pay more than they can comfortably afford or want to pay. The plan of payment is also necessary to know, to write a successful purchase agreement. Loan originators can provide this information easily. To help a seller, the financial state of the property to be sold is necessary. Are there mortgages or liens against the property which must me satisfied before the seller can receive their proceeds? Is the title information currently accurate? Are there any unusual circumstances (i.e. repairs, or assessments etc.) which would affect the sale? Sellers need to specify how they would like their proceeds received. Financial and legal advice is very strongly recommended for these most important decisions.
I am not an attorney, or an accountant. It is not appropriate for me to give advice in these areas. I can easily provide plentiful referrals to excellent providers of these services. We can all work together to help achieve desired goals. - Physical:Everyone should be able to feel safe, secure, comfortable and happy in their home. Illness and/or infirmity affect people without regard to age or financial considerations. Fortunately, there are many lifestyle choices available. People need to think about planning for their "comfort levels". Do they enjoy having the responsibility for exterior and interior maintenance which comes with independent living in single family homes. Condominium living requires no exterior maintenance. Monthly condo fees must be paid for this privilege. Retirement communities vary in style, community orientation and benefits available. Investigating should be thorough but it can be fun! Sometimes apartment living is right. No physical responsibility, no intrusion of personal privacy. Medical and other help organizations have been created to assist Seniors living independantly. Check them out, ask questions and decide if they could be of help.
A medical consult is necessary when health issues are the primary cause for a nursing care move. Only doctors can certify levels of appropriate care. They should explain all of this thoroughly. There are also websites and organizations which can provide an abundance of information on related topics for every need. As with legal and financial issues, I an not medically qualified to advise anyone regarding these issues. I can provide much information on sources, phone numbers, websites and related professionals who can and will help everyone who calls. Advanced planning is just plain good for everyone!
If you have completely read this entire EFP Factor article, THANK YOU! Aging isn't always easy, but everyone does it. I am a Seniors Real Estate Specialist® My mission is to help Seniors live independently as long as possible, to assist in lifestyle transitions safely and successfully, when this is no longer the case. I gladly open new doors for Senior to make choices which satisfy their housing needs.
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Know Your E * F * P * Factors
