We recently sat down with the daughter of a couple who lived at Solihull Village, and she told us all about their positive experience with the buyback scheme.
“The buyback scheme turned out to be a life saver for my family. Unfortunately, my Dad passed away and not long after, my Mum had a couple of strokes and she needed to be in a Care Home with 24 hour care and assistance. If they hadn’t been in an ExtraCare apartment, we would have had to get an estate agent involved to sell it with viewings, offers etc and all that that entails. I can’t imagine how stressful, not say how costly and time consuming that would have been for our family at what was a very difficult time for us.
Instead, we spoke to the manager at Solihull Village and he told us the procedure for the buyback. We gave three months’ notice, emptied the apartment, and shortly afterwards Mum had the buyback money in her account, less the small depreciation fee which we were made aware of when the apartment was purchased.”
Phil’s in-laws also lived at Solihull Village, and here he talks about how the buyback scheme saved them the worry and responsibility of having to sell the retirement property on themselves.
“If anything was to happen to your loved one at the village with the brilliant option of ExtraCare’s buyback you don’t have the worry or responsibility of having to dispose of the property. That could take many months, during which time you are still paying many bills. You simply hand it back for a small fee and have the peace of mind of knowing someone else is responsible for sorting it.
You don’t have solicitors’ bills for selling it on, you’ve got enough to think about when you’re handing it back, either a loved one has passed away or they need much further care that the village can offer, you have a lot on your mind and it’s one less thing to think about, selling an apartment.
The thing about houses and apartments is the value can come down as well as going up, the trade off here is knowing you’ll have the price guaranteed. It was absolutely the right move for us.”
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