OK, I know what to do, but Im a wimp, so please be gentle with me
Ive got to sell mums home and I have CoP and Ive had 3 estate agents in to give me valuations.
The problem is mums friend - not that she herself is a problem, she is lovely and has done so much for mum over the years that I do not know what I do without her. She is practically family.
This friend had previously expressed the wish to buy mums home after she died and at one point mum was thinking of leaving her the bungalow in her will. I know that mum wanted her to have it after she was gone. I dont know if she actually did and I know that it makes no difference anyway as she is still alive. The friend has again said that she would like mums bungalow, but having had the valuations done I know that she does not have enough cash If mum had died I would just waive the difference and sell it to her anyway, but I know that I cant because of the CoP and deprivation of assets.
The friend cant get a mortgage to cover the difference and although she has said she would rent it wouldnt cover mums CH fees and although it would make mums capital last longer there is the risk that if mum survives long enough I would have to sell the home anyway - which would make the friend homeless. I have even contemplated lending her the difference as personal loan, but it would take her 10 years to repay it
The long and short of it is that I cant see any way of implementing mums wishes in this matter and Im going to have to tell the friend this ..............
I feel such a heel and dont know how to tell her.
Ive got to sell mums home and I have CoP and Ive had 3 estate agents in to give me valuations.
The problem is mums friend - not that she herself is a problem, she is lovely and has done so much for mum over the years that I do not know what I do without her. She is practically family.
This friend had previously expressed the wish to buy mums home after she died and at one point mum was thinking of leaving her the bungalow in her will. I know that mum wanted her to have it after she was gone. I dont know if she actually did and I know that it makes no difference anyway as she is still alive. The friend has again said that she would like mums bungalow, but having had the valuations done I know that she does not have enough cash If mum had died I would just waive the difference and sell it to her anyway, but I know that I cant because of the CoP and deprivation of assets.
The friend cant get a mortgage to cover the difference and although she has said she would rent it wouldnt cover mums CH fees and although it would make mums capital last longer there is the risk that if mum survives long enough I would have to sell the home anyway - which would make the friend homeless. I have even contemplated lending her the difference as personal loan, but it would take her 10 years to repay it
The long and short of it is that I cant see any way of implementing mums wishes in this matter and Im going to have to tell the friend this ..............
I feel such a heel and dont know how to tell her.