Selling Your Property to Move into Aged Care - A Real Estate Perspective

It may be time for you or a loved one to consider making the choice for an easier lifestyle or one with some assistance. There are many wonderful places to choose from, and I would always suggest thorough research when looking into the various facilities.

• A good plan of action is to get some preliminary costs including the deposit required for your chosen facility and the full amount for placements. It is also good to know the value of the property which will be sold for this move. I would suggest having some appraisals on your home done before the search begins.

• A care facility typically requires either a deposit, the full amount of the purchase or the potential resident’s property to be on the market to hold a placement. Having clear communication and surety around this is essential before selling the home.

• If your loved one has some challenges, a Power of Attorney Document or Enduring Power of Attorney Document may be required to proceed to sell the property. It is prudent to have one of these in place and registered with Landgate at the beginning of the process.

  Occasionally, families have to go to the State Administrative Tribunal to become Plenary Administrator of an estate in order to be able to sell a property to pay for the aged care required. As traumatic as this can be, the outcome will help keep your loved one safe and secure.

Before selling to enter aged care, I would suggest you engage a settlement agent/conveyancer early in the process to be able to guide you along the legal tightrope and use a real estate professional who really cares about process and communication to keep you all safe and clear during the transaction.

Always here for your questions - Ask Louise x