What happens if I dont get what’s expected from house sale?..

[SMBeach]

I’m quite anxious as I’ve never been directly involved in selling property. I can’t rest with worry that I won’t get what’s expected for the house. Or that the house will take ages to sell. I have a 12 week property disregard which by the time the house is properly cleared, and Christmas and new year getting in the way, I worry as 12 weeks will be very tight to sell the property. I worry that I’ll then be expected to fund the fees for the care home which I won’t have until the property sells. Dad has savings but he’s having to keep paying the mortgage Tim if sells and storage for some of the sentimental contents etc. so I don’t want to use these savings.
I see that when signing the contract it states I’m signing as guarantor jointly and severally but I’m a single parent so certainly can’t afford to step in for dad.

Has anyone had experience where they’re short in funds because the house sale didn’t reap what was expected? And anyone refused to sign the agreement due to the guarantor bit and still been accepted to remain in the home? It’s all making me rather anxious.

 

[SeaSwallow]

Hello @SMBeach I am so sorry that you are worried about this. I do not know enough about the financial aspects to advise you but would suggest that you contact the Alzheimer's Society help line for advice. I have attached the link below.

Contact us

Find out how to get in touch with Alzheimer's Society by phone, email, post or online.

www.alzheimers.org.uk

 

[nitram]

I would not sign the contract and if they pushed explain that I can't afford to be guarantor.
I would press on with the house sale as quickly as possible and if not sold a couple of weeks before the 12 weeks runs out approach the LA for a loan.

 

[SMBeach]

Unfortunately the LA only fund U.K. to the contract rate (after deducting dads own contributions) so they aren’t really paying much at all but what little they are paying, dad will pay back from proceeds of the sale. The care home manager had told me they’d just bill us for what’s owed and I assumed she meant once the house sells but on reading the contract it states that if the house isn’t sold then the representative (me) is responsible gif making sure the fees are paid. That’s fine but I was expecting to pay from the house sale. That was always made clear by me frim the beginning that we needed to sell the house to pay the fees.

 

[nitram]

Dad has savings but he’s having to keep paying the mortgage

Have you any idea of the equity on redemption and how long this will pay care fees?

 

[SMBeach]

Yes. We calculated it to pay care fees for 18 months. This is ‘if’ we get as expected and after repaying outstanding mortgage. I had assumed the council paid the full contract rate of £888.50 per week but they don’t. They deduct dad’s income from that figure and only pay the balance. But the care home do have all dads finance figures and they know we need to sell the house to pay so I can’t see how they can demand the money sooner when he doesn’t yet have it. Dad can pay the assessed amount as per his income. It’s just the outstanding fees require house to be sold. I had 3 valuations done and used the lowest valuation in assessment but just had house valued again a month later by a solicitor who has valued the house at 5-10k less than the previous minimal valuation. The previous valuations done by estate agents. This is in Scotland.

 

[try again]

I thought Scotland paid for all fees?
If it's stressing you out, look at auctioning the property. It might not achieve the same amount but as it's going to pay for your dad's care until it's all gone and the council step in don't be too concerned.
Storage is expensive and I'd suggest you clear all the items rather than put them in storage.

 

[nitram]

If the house sale proceeds take his assets over upper limit of £32750 in Scotland he will be self funding.

 

[SMBeach]

Dad is self funding. Only the nursing fees are deducted as everyone is entitled to this if they have nursing needs. The council only make up the difference between what dad pays and the council contract which is just £75 a week which dad pays back once house sells. Dad pays the other £600’ish a week from house proceeds. So he will get a bill from council and another from care home. The home only accept council contract in 18 months time after dads paid full fees for that long which is when his funds run out. It will all be fine if he gets what we hope from the sale. I just worry we won’t now I’ve had a lower valuation which I wasn’t expecting having just had 3 valuations done just 4 weeks ago.

 

[SMBeach]

I thought Scotland paid for all fees?
If it's stressing you out, look at auctioning the property. It might not achieve the same amount but as it's going to pay for your dad's care until it's all gone and the council step in don't be too concerned.
Storage is expensive and I'd suggest you clear all the items rather than put them in storage.

No they dint. They only pay £338 for nursing or £200’ish for personal care. The relevant fund gets deducted from the care home fees. Auctioning would give even less money for care home.

 

[SMBeach]

I guess worst case scenario, I have to move dad. If that happens then I’ll move dad down here in Kent. The care home here is much cheaper than Scotland.

 

[Kevinl]

Will Scottish LA be paying if you do that? A while back on here I think I read about an issue if you move area even within the same country of the UK.
K

 

[nitram]

Sorry, not au fait with Scottish rules.

 

[sdmhred]

I would definitely look at the auction route. Having had 2 sales fall through - the auction was so much less stressful and u will definitely get a sale in the time period. The price we received was only around 5K below open market too

 

[SMBeach]

Will Scottish LA be paying if you do that? A while back on here I think I read about an issue if you move area even within the same country of the UK.
K

They dint pay in Scotland either as dad has a house to sell so he’d just self fund down south. But the home I’m most interested down here is much cheaper.

 

[Kevinl]

OK, a couple of things to cosider.
Upper capital limit - Scotland £32,750 England £23,250
Lower capital limit - Scotland £20,250 England £14,250
These are the 2923 figures, in Scotland there is no charge for personal care at home, in England there is a charge.
K

 

[SMBeach]

That’s correct. I’m just hoping the card himecare happy to wait til house is sold.

 

[Sirena]

It sounds as if it would be a good idea to move him down here anyway, if it's near you and cheaper so his funds will last longer? I moved my mother from London to a care home near me (also in England), she self funded at first and now the local authority fund her.

Best of luck with the property sale. Fortunately I was not asked to act as a guarantor - I wouldn't have done it.

 

[Kevinl]

There's an interesting chart on the "Which.com" as in which magazine a respectable publication and from their figures Scotland is nearer the top then the bottom in terms of cost.
K

 

[nitram]

There's an interesting chart on the "Which.com" as in which magazine a respectable publication and from their figures Scotland is nearer the top then the bottom in terms of cost.
K

https://www.which.co.uk/money/pensi...wcg#how-much-are-care-home-fees-across-the-uk .