Selling an "assisted living" property

moneyistooshorttomention

eddddy wrote: »

My guess is that elderly people who are looking for assisted living properties are less likely to be 'internet savvy' and not very keen to search for properties online. They are more likely to want to deal with a fairly traditional local EA.

In many areas, it seems that assisted living properties always seem to be sold through just one or two EAs. Often it's the long established independent EA that the elderly people feel they can trust.

Valid points - but I am wondering whether there would be some late middle-aged people (ie young enough to be internet-savvy) that have less-than-ideal health and might look to get somewhere "easier" to live in that might also look.

Whew....just seen the bit about the £5,000 service charge!!! So that definitely makes it a good bit more likely it would have to be people who have some sort of health problems that would want it then....as healthy people would indeed likely feel "What am I paying out good money for?" about that.

Annie1960

starlitegaize wrote: »

the £5000pa service charge,

How much :eek:

Madmel

Finally sold MiL's Peverel apartment earlier this year after more than 18 months on the market. We went with their in-house agent, something I would not recommend, but due to our own hectic schedules, we were not available for viewing etc. at the sort of times the elderly prospective purchasers wanted. The House Manager did all the viewings.

There are a couple of local EAs who also sell these types of property so it would be worth it in your position to contact them. The reason I did not use them was that one of them made a huge assumption that I was looking to invest in new-build buy-to-let flats (completely unfounded and untrue) and promptly passed on my contact details to every local developer, who proceeded to bombard me with phone calls.

All I can recommend is ensuring you have a decent solicitor who has dealt with these types of sales before. Once you have paid for the sellers pack (yes, more dosh), you can then ask them to check how much the freeholder wants as their cut from the sale.

When we bought the place for MiL, it was the right place for her and she had a good 9 years there. However, I would be put off by the additional hassle of selling them on, the service charges which are payable even when the place is empty and the general ineptitude of the so-called specialist EAs.