Serving in the military generally means a permanent change of station (PCS) will occur — frequently. Every move is different but typically it involves selling a home. With each move there are frequently options you may need to ponder. Here are a few for consideration:
Flip Your Home into a Long-Term Rental. You need to move quickly and don’t have time to wait for your home to sell. Consider turning your home into a long-term rental. This will essentially pay for your mortgage until the time is right to sell. If needed, hire a property manager to deal with any property issues in your absence.
Drop the Listing Price. You need to sell the property quickly. Lowering your price can help your listing stand out from the rest while helping you achieve your goal. You may want to consider discussing a reduced commission rate with your agent before dropping the price.
Employ a “Military-Seasoned” Realtor. Your PCS has you moving cross country. This means you need an experienced, trusted advisor to manage the selling process for you. Do your homework to locate a realtor who has experience working with military families. If possible, begin your search for a realtor long before you need one. This will save you time in the long run.
Leave Your Family Behind. It is never ideal to move without your family. But this is an option to consider when living the military life. You may consider making this a short-term solution so your family joins you when the timing is right. Perhaps the children need to finish the school year or your house needs to sell first. Whatever the case may be, this is a viable option for consideration.
Sell Quickly with a Short Sale. This option is not ideal but you may want to consider it if you have no alternative solution. A short sale occurs when the home owner and the bank lender agree to sell the home for less than what is owed. Of course, the bank has to agree to taking a loss in writing. Only consider this option if you’re trying to avoid a foreclosure.
Save Listing Costs with Because You Served. Home sellers pay a commission at closing that is split between the listing agency and buyer. The commission is typically six percent of the home sale. Because You Served approved realtors list veteran homes for free, so the commission is cut to three percent. Saving money when selling you home is always a no-brainer.