Desmond Brown

We Help Seniors!

17 September 2019
Desmond Brown

A recent Canada Mortgage and Housing Corporation (CMHC) study shows that seniors in Toronto over the age of 65, hold  25% of the housing stock in our city.Although the study says that most of these seniors are holding onto their homes, a lot of my team's business is with seniors who are downsizing, and unfortunately, estate sales after the owners have passed away.

My team member Jenn, who is also designated as a Seniors Specialist,  recently represented a buyer in the purchase of an estate sale in Scarborough. The person who passed away was 104 years old, and his wife who died two years prior was 102 years old.  The estate's real estate agent was the great-great-grandson of the two deceased owners. However, here's the kicker, and something we don't see often. The executors (or trustees) of the estate were also family members, which isn't unusual, but they were the three daughters who were all in their 80's!

When Jenn brought in the offer, she competed against four other offers. She had a lovely letter from her client who is in her late 30's. Jenn's client expressed how she fell in love with the home and how the separate suite was perfect for her needs because she was going to be occupying the home with her elderly retired mother. Despite Jenn's offer being conditional, and one of three at the same price point, the daughters representing their parent's estate accepted her offer!

We always say that it's a great deal when people on both sides are happy. That's exactly how everyone feels about this transaction!

If you, a family member or someone you know is looking for some assistance in this phase of life, please don't hesitate to reach out - we're here to help.