Tower Property Helps Family Navigate the Process of Selling Property for Aged Care Funding

The owner of the property had been living there for almost 30 years when the time came to move into Aged Care. By the time Tower Property met with the vendor, he had already been through the emotional, and often confusing, process of assisting a loved one transition into aged care.

The vendor needed help with selling the property, starting with choosing the right real estate agent and how much commission they should be paying. As the owner had been there for three decades, there were many treasured possessions; but with that came the dilemma of what to keep and what to do with what was left.

He also had questions on how much work should be done to the property to prepare it for sale. He had seen a lot of stories in the media recently about the housing market declining and how important it was to make the property stand out. This added to his uncertainty and one more reason for bringing Tower Porperty on board. 

Mike Allanadale, Property Manager, sourced local agents, analysed each one and met each agent individually at the property. He then provided the vendor with a report clearly summarising the agent proposals.

“It really helped the vendor with making his choice – he knew the facts which helped him make an informed choice of which agent to use. We then negotiated the agents commission fee down.”

Tower Property also provided clear guidance on what work could be done to maximise the sale price and assisted with funding the work. It was important to get the right balance between doing ‘enough’ but not too much.

Mike was able to provide advice based on past sales experience and a thorough knowledge of the market. The property required the original timber floors to be polished, painting, some general maintenance and furnishing. Again, Mike sourced contractors, arranged quotes and project managed the contractors. Through this process, Tower Property was able to significantly reduce the stress and time involved for the vendor.

Come auction day, the house looked amazing, standing out and attracting some keen buyers.

Mike was there for the vendor from start to finish, keeping them informed of the progress and providing regular updates along the way. He also was there on auction day in person with an auction strategy and provided invaluable support to the vendor and manage the negotiations. 

After the sale, the vendor was very happy with the outcome and grateful for the assistance in what can be an emotional and stressful time.