Selling House after application

Discussion in 'Selling of Home' started by cynthiab, Mar 31, 2011.

  1. cynthiab

    cynthiab Newbie

    I sent in application for my 85 year old father in February 2011. Since the application process can take a while. His assests will run out in about 10 months. If he doesn't recieve payments soon I will have to sell his house to pay his bills. What happens to his eligibility if I do this before the application is appoved or if I sell after he starts to recieve payments? The house is in his name and my deceased mother's name. I have POA and an the Executor of my Mother's Estate. When my Dad passes his assests will be split evenly between me and my sister. Can we sell the house and still have him quilify for the benifits? Any information or suggestions would be very much appreciated.
     
  2. Max

    Max Hero Member

    If he isn't living there, the sale of the house will not have an effect on the award. That being said, the value of the house should be reported as a real estate asset on the original application. I would suggest to notify VA of it upfront right now since his assets already aren't enough to last for the rest of the year. With the housing market the way it is right now, home sales aren't considered to be as big of deal these days as many people think they are.
     

Share This Page