Process

We have a three year commitment, rather than the alternative five year commitment. We have found our clients to be hesitant with a fiver year commitment, especially when the average residency in a nursing home is 1.5 years.   We like to have one of our marketing coordinators conduct the initial call. The marketing coordinator explains the process, the costs, and the guarantees. If the Elder Law attorney and the client would like to move forward, then a conference call is established with the closing coordinator, the Elder Law Attorney, and the client. 

 

We provide a three year commitment, with early buy out possibility with an early termination penalty. We also guarantee that we would buy back the property at the end of the contract period, at the same price. This essentially preserves the principle needed to qualify for Medicaid. The family does not have to spend down the principle, or place into a Medicaid Strategy that has negative consequences. 

 

We provide a guaranteed monthly income stream of 3% per annum, or 4% for a short term residential real estate, based on the purchase price of the property. We also handle any repairs, including the costs of those repairs, taxes, insurance, tenant issues and rent collection. Essentially, it is a turn key operation for the client. 

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Our defacto deeds are Lady Bird Deeds, so that there is not any capital gains and the property passes as a matter of law to the family.