Thinking of Selling Your Home?

Article submitted by Shirley Shields.

Over the years, much has been said and written in the way of advice about the biggest financial investment most of us make during our lifetimes, the purchase of our homes. On the other hand, I feel too little attention has been paid to providing seniors with comprehensive and effective guidance for maximizing the redemption value of this investment when the family home is sold.

Many people who have lived in their home for about 10 years or more are unaware of new or stricter regulatory requirements for selling their home. These requirements include, but are not limited to:

• On-Site Wells – All well water must be tested to show compliance with State Standards.
• Fuel Oil Tanks – If an in-ground oil tank is present, most prospective buyers will immediately ask if it is insured against leakage and soil contamination. (It may be cost-effective to move the oil tank into the house basement.)
• Septic Systems – Records of all maintenance and sludge removal should be available.
• Radon – Testing required to demonstrate State's Permissible level for this gas is not exceeded.
• Smoke and Carbon Monoxide Detectors – Your municipality must inspect and approve the number of, location, and suitability of these devices.
• Disclosure Statement – A comprehensive "Disclosure Statement" should be prepared to protect you and potential buyers from misunderstandings about the condition of the property.

To make the sale of your home as easy as possible, Your Senior Real Estate Specialist (SRES) will provide you with "hands on" assistance and guidance concerning the above items and any other questions or problems that may arise. If you need assistance with related matters such as ending your telephone, trash and utility services, your SRES will step in and help if you so desire.

Please consider contacting a SRES when you first begin to seriously think about the possibility of selling your family home. There is no obligation for doing so.