If your parents need to sell their house and they’ve reached an age where they can’t properly manage their own affairs, they may require you to sell it for them. For you to sell their home, you might need to obtain power of attorney.
Power of Attorney in Michigan
A financial power of attorney (or POA) is a legal document that gives a person (called the “principal”) another person the authority to act on his or her behalf as it pertains to financial matters. In Michigan, we refer to the person acting on behalf of the principal in financial matters as the “attorney-in-fact,” but in many other states they refer to that person as the “agent.”
In order to create a power of attorney in Michigan for financial matters you have to make sure that your POA is dated, signed by the principal or a notary on behalf of the principal according to the requirements of the Michigan Notary Public Act, and it must be signed in the presence of two witnesses or acknowledged by a notary public. Both witnesses also need to sign the documents, and neither can also be the attorney-in-fact.
Once you’ve got power of attorney, you’ll have the authority to sell your parent’s house on their behalf. When parents get older, selling a house can be difficult and stressful. Obtaining power of attorney will allow you to alleviate stress for them and sell their home quickly.
Selling Your Parents House
Getting a power of attorney is the first step. Once you’ve got that you can proceed, you’ll be able to sign papers on their behalf which isn’t uncommon for people with older parents. There is a type of POA that will give you the authority to sell your parents house even after they’re deceased. This is the best route to go. You want your parents to be stress-free and to know that you’ll be able to sell their house.
For Sale By Owner
Selling your parents house yourself instead of using a realtor can often be the quickest way to sell their home. If done correctly, it can also be the easiest way. The best part is, you won’t have to share any of the profits with a real estate agent.
Another downside of using an agent is that it can be tough on your parents. Agents will be constantly bringing strangers in and out of your parents house. If you sell it yourself, you’ll have more control of that. You might even only show your house to one person.
While selling your parent’s house by yourself will take pressure off of your parents, it does create some extra responsibility for you. You’ll be responsible for showing the house, listing it on the market, and researching pricing. This can be time-consuming, and it’s something to consider. You also have to decide where to list the home. Further, you may have to renovate or change things in the house to make it more appealing. It’s a process, and you have to be prepared for that.
How To Sell Your Parents House Fast
The fastest way to sell your parents house fast is to sell to a cash buyer. Selling a to a cash buyer is easy, it’s hassle-free, and it the entire process can take just a few days.
When selling to a cash buyer, a professional investor will come and look at your house. The investor will make a cash offer to you on the home as-is. Once you and the investor agree on the amount, you’ll sign an agreement and get paid for the property. You won’t have to worry about renovations, you won’t have to worry about marketing, and you won’t have to worry about an agent.
If you have power of attorney and you’re looking to sell you house fast, the best way to do this is to sell to a cash buyer. From the time you make a call to the time you close a deal can take as little as a few days.
Sell Your Parents House Hassle-Free
Selling your parents house can be difficult. Obtaining a power of attorney can be a big help. However, the sooner you get it sold, the easier it’ll be on yourself and your parents. Selling to a cash buyer is fastest way to achieve that.
Here at BuyMi.house, we specialize in selling your house fast so that you can move on to more important things in your life. If you’re interested in selling your house quickly, reach out and ask for a quote. Or you can give a call and schedule an appointment. We’d love to help you out.