Thursday, July 25, 2024

Helping hand to manage property during time of loss


Ken, a longtime resident of Sydney, faced profound loss when his beloved spouse of 35 years passed away, leaving him in deep mourning and confronting an uncertain future. Their spacious 1970s apartment, filled with memories, became too painful for Ken to stay in.

Feeling overwhelmed by the next steps, Ken found the thought of staying in the big, empty apartment unbearable. On a fixed income, he wasn’t ready for aged care but needed to downsize his home, neighborhood, and monthly expenses. His plan was to sell the apartment and use the proceeds to relocate out of the bustling Sydney CBD, securing some retirement cash in the process. He was just about ready to give up and sell his unit without the renovation, which would have brought a below-market price—but what else could he do? He didn’t have the money or emotional strength to do it himself. 

Ken’s situation was unique. Typically, it’s the men who pass away first, but Ken was left to manage the bills, mortgage, and hefty medical and legal expenses. To sell the apartment at a good price, he needed to renovate, a task that felt daunting and beyond his financial, emotional, and practical capacities.

While seniors often have access to emotional, therapeutic, and grieving support, there traditionally hasn’t been an organisation to provide “real estate support”. Enter Tasbourne Properties. They offered Ken comprehensive support through a Joint Venture agreement, clearly outlining their role as the operations manager to handle all aspects of the project—from determining if a renovation would be profitable, to funding the whole operation, managing proposals, negotiating with contractors, overseeing renovations, and more. With their help, Ken wouldn’t have to navigate the complex and stressful process alone. They provided a personalised consultation to understand his unique needs and handled every detail with empathy and professionalism.

First, they conducted a thorough market analysis to determine if selling without renovation or as a renovated unit would bring the optimal price for Ken’s apartment. Next, they took the time to find the best contractors, worked with the strata, and oversaw the work that prepared the home for sale, managing everything from decluttering, renovation and cleaning to staging.

Tasbourne Properties also took charge of sourcing the best real estate agent to market the home. This involved understanding how agents work, their strengths and weaknesses, and identifying the best fit for Ken’s specific needs. Choosing the right agent was crucial to presenting the home in the best possible light, and Tasbourne Properties handled this process seamlessly, relieving Ken of the associated stress.

When offers came in, Tasbourne Properties worked with the agents to negotiate the best possible terms on Ken’s behalf, guiding him through the closing process. This allowed Ken to focus on his healing.

Ultimately, the sale of the apartment provided Ken with the funds needed for his next chapter. Tasbourne Properties’ comprehensive service – from market analysis and home preparation to marketing and closing – proved invaluable. 

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