Ironically, we get calls like the one you described  at least once a month.  We investigate the financial strength of the prospect, out them in our website to search the mls and acquaint themselves with price points and also point out that 50 yrs old will not qualify them to buy in a 55+ community, unless a co-buyer is at least 55 yrs old.

We have a 55+ community in Georgetown that allows those under 55 to purchase as long as 85% of the units are owned by that 55 and above. Always check the condo docs

Assuming that 50k is way below market . . .
"Here is what you can expect to pay for these properties. Shall we hook you up with financing for the rest?"
No? "I don't think I'm yer gal, pal!"

I'd use a straight forward approach and say: You must be at least 55+ to buy and you are well below market values with your budget though I can suggest other options such as talking to a lender and once approved, looking in a community that is not age restricted... 

None of the above Annette Lawrence , Palm Harbor, FL 727-420-4041 I would respond with "I am not aware of any housing in this price range in Minot ND. Are you eligible for any type of financial assistance?"

How many strikes does a person need to have? How do you buy into a 55+ community at the age of 50? I'm not in the business of provided false ID's for my clients. I don't handle $50K buyers... in my market this wouldn't buy you a double-wide today!

It really depends on where your looking! If your in my area of town I would go down the rabbit hole as long as I received a POF!

It will be hard to find a condo for $50k in my area so I would take the time to explain so she gets the picture.  I've had this type of buyer before, somene from overseas who wanted to purchase a home for $20k.  I just got another phone call yesterday and the conversation was something similar to this. Often I found people just want to hear what they want to hear and the reality is not checked.  To me, after I have taken the time to explain, and if they still want to drift along so be it.  I just move on.

Suggest a motorhome and a Sams Club card! Fun stuff!

#4.  Send the individual up to Lafayette, Indiana where $50,000 can purchase a condo with lots of people over 55.   It may not be on the water but it does have city water!   ^_~

A) Client is bad at math. Pick up a small calculator at the Dollar Store which should help.

B) Client again bad at math thinking 50K will buy anything but the parking slot of a condo.

C) Just for grins send her condos in the 300K range. You don't have to pay attention to math either with this client.

I suggest places where they can move to and agents to help them, where $50k is a viable budget.  Out here, that's not even a down payment for a 55+ community.

First I would know in my market you are not going to find anything for 50k

As usual, more questions than answers.

Is $50k a reasonable offer for the area?

Does the buyer plan to reside there? Many adult communities restrict residency not ownership.

Will the community allow an exception? Many adult communities allow a percentage of under age residents.

Is this buyer serious, but limited financially? Or just a cheap, unrealistic bozo?

There is not much money to be made selling $50k properties. But if they really need help, I would help.

I think you need to follow the legal instructions of your client. If you can't for any reason, not a transaction you can handle, you can refer the business to another agent or advise the client that you are not the right agent for something like this.

I'd go down the rabbit hole. "You need to be 55 or older," for starters, followed by listings.

Narrow down where she could purchase a condo for $50K & then clarify the 55+ communities rules to see if they could accomodate someone who is 50.

Or just pass on it. 

Some of our 55 plus community are changing and have reduce the age to 50.

d. provided we find a condo that fits your budget, you need to be aware that you may be able to purchase at this time but not live in that community until you've reached the required age. 

With that price point in our area you are limited to a older mobile home in a 55+ community, and there are very few at that. Depending on the HOA documents there might be an exception for a 50-year-old (but I haven't seen it unless someone else living in the house meets the age requirement) and I would make sure I explained that to the caller.

$50,000.00 condos are long gone around here. Some 55+ communities around here allow around 15% of units to be sold to people under 55. I think most rent them out until the time comes when they might actually move there.

Nice down payment, lets start looking for your dream home.

I would chat and find out more than what you have given us.

I would simply let the buyer know that if their budget is $50K that they are looking at an older mobile home in a mobile home park for our area. And that I would be happy to help them find an area that has housing for $50K in some other state/city - and that it may have to be in a different country!!

I'd likely offer to refer them to an agent in Detroit where they may have a chance to buy something for $50K or less! 

I would politely explain that a $50,000 property does not exist in my market and suggest they look elsewhere

Neither the age or the budget could open that door in this area. No explanations necessary.

Explain there are no condos in that price range and at age 50 buying into a 55+ community would not be possible.  I would explore other options after vetting the buyer's financials and ability to purchase. 

Give them the straight deal.

If there is someplace outside of California that you can buy for $50,000 and live in whether 55 or not, I don't have a license to sell that property.

Annette, I wouldn't have that problem - we don't have $50K properties here in Charlotte. I don't think it would be worth going down the 50-to-55 rabbit hole either!

Provide your best advice to all.

Where there is a will there is a way...May they meet-up successfully for you

that sounds like they qualify for an affordable unit in  55+ community....I'd check to see if they exist in your area.... 

Annette,

I agree with @Sandy a