Home sale help

[mrclancs]

My parents have both gone into a care home. The money the have in the bank will not cover the care costs for more than a few months.
I have informed my siblings we need to sell the home as there is a POA in place. However they won’t sell and said there is no rush. If we don’t sell and we run out of money the council will pay but we will end up paying them interest on any credit. I don’t believe there approach is sound financial advise and they are not acting in my parents best interests.
I do understand that they have only been in care a few weeks and there are emotional attachment to the house.

Any advise on what to do also as next of kin can I sell the home without there involvement.
We have already had a lot of disagreement over this.
Thanks

 

[canary]

Hello @mrclancs

I agree that selling the house now is in your parents best interest, but its not the nok that can sell the house, its the person/people who hold POA

Who holds POA, and if there is more than one person are they "jointly", or "jointly and severally" attorneys?

 

[mrclancs]

Hello @mrclancs

I agree that selling the house now is in your parents best interest, but its not the nok that can sell the house, its the person/people who hold POA

Who holds POA, and if there is more than one person are they "jointly", or "jointly and severally" attorneys?

Three of us hold the POA. We each have joint attorney. I have tried asking and advising but it ends up as an argument. One of my other siblings keeps getting involved and she is not on the POA. I do involve her but this is not getting out of hand. I buy and sell property and know how long house sales can take. Also the care home will want someone to sign to agree to pay the costs if we can’t pay without selling the home. I do t want to do this but the only one who can afford to. Any help appreciated

 

[Kevinl]

Have they both gone into the same care home, even if not it's still their home where ever they are now.
It helps if you say where they are (now not you) as the 4 nations of the UK have different rules.
Scotland, England, Wales, NI all differ sometimes a little sometimes a lot, so just a nation so you get accurate advice for where they live helps.
K

 

[mrclancs]

Have they both gone into the same care home, even if not it's still their home where ever they are now.
It helps if you say where they are (now not you) as the 4 nations of the UK have different rules.
Scotland, England, Wales, NI all differ sometimes a little sometimes a lot, so just a nation so you get accurate advice for where they live helps.
K

Thank you K. They are both is the same care home, dad can no longer look after himself and mum has Alzheimer’s dementia. They are in England.

 

[canary]

Three of us hold the POA. We each have joint attorney

Is it "jointly" where you all have to agree, or is it "jointly and severally" where each of you can act individually?

I just want to be clear about this, because what you can do depends on how you can act

 

[mrclancs]

Is it "jointly" where you all have to agree, or is it "jointly and severally" where each of you can act individually?

I just want to be clear about this, because what you can do depends on how you can act

I don’t know I will have to check the POA. I will check.

 

[Rayreadynow]

The care home may very likely pay until such time as the house is sold.

 

[Kevinl]

Agree to everything, but sign nothing, my advice.
K

 

[mrclancs]

I don’t know I will have to check the POA. I will check.

I have checked and the POA say we must all agree to sell the house.

 

[try again]

I'd be inclined to let them worry about it all. You've given them your advice to sell which they will have to at some point.
Perhaps they are just having a hard time adjusting to the situation. The what if she needs to come home card played heavily on my mind for a few months (not that it was a possibility for my mum ).
Perhaps the urgency of not being able to pay the care bill will focus their minds.

 

[Kevinl]

Agreed, put on your best "poker face" and outbid them, say you're happy.to walk away, if you all have to agree, they can you can't, you're holding the aces.
Can't sell with you cant sell without you, ugly but it leaves them with no other option,
K

 

[mrclancs]

Agreed, put on your best "poker face" and outbid them, say you're happy.to walk away, if you all have to agree, they can you can't, you're holding the aces.
Can't sell with you cant sell without you, ugly but it leaves them with no other option,
K

Thanks you all for the responses
K your right 😊

 

[Kevinl]

New year's resolutions are sell this house, signs is already out, find somewhere to move on to, sell one of my boats, not figured out which one I love the less hard choice .
But I'm selling and buying too, I think at least the estate agent I'm using is on my wavelength.
None of this put it up for X get offered X less 5 per cent, 10 per cent or whatever, it's a price, do you do do price negotiation in the supermarket!
K

 

[nitram]

None of this put it up for X get offered X less 5 per cent, 10 per cent or whatever, it's a price, do you do do price negotiation in the supermarket!

If the product isn't selling fast enough you buy it for less - RFQS

 

[Kevinl]

Price to sell, housing market is so area specific it's impossible to comment, mine is up for 20k less than a house round the corner with no off road parking and right by the local shop, bargain or rightly priced, No Offers, my issue is as a seller I'm also a buyer too.
Íf I find somewhere I fall in love with, as a buyer should I put in a cheaky bid, cos that's what's that's what you do?
K

 

[nitram]

Have you tried looking at recent sales - can be 2 o 3 months delay, solicitor might be slow registering and Land Registering can cause a delay,
Just enter post code (it likes the space), nearby house on different street will be different post code.

HM Land Registry Open Data

landregistry.data.gov.uk

 

[Lawson58]

Price to sell, housing market is so area specific it's impossible to comment, mine is up for 20k less than a house round the corner with no off road parking and right by the local shop, bargain or rightly priced, No Offers, my issue is as a seller I'm also a buyer too.
Íf I find somewhere I fall in love with, as a buyer should I put in a cheaky bid, cos that's what's that's what you do?

Always negotiate. You can always work up to a price but never down.