Senior Citizens Due Diligence
Iam meeting a senior citizen who wants to sell her house(she is 87 years old) and move into an apartment. This being Florida, I want to know what due diligence I need to do.
She seems to be of clear mind when she talked on phone.Doesnt have any children or relatives. She is giving the house at a good price. My concern is since Iam dealing with a very old person,I want to cover all my bases so that I dont experience any problems in future
Any and all help is Appreciated
Thanks
Well in California there are elder abuse laws that are very strict... I would have someone else with her that she knows and have them sign a witness to the conversation document.
I think at issue isn’t that you plan on taking advantage of her, but when you buy her house for 50,000 less than value someone will claim that you did take advantage of an elderly person.
Not sure how John’s one page affidavit handles that situation but I know my 21-page contract does.
Thank you for your response. I will definitely try to have someone she knows around and also add it to my contract saying she is selling the house with a clear mind !
Thank you so Much!