Yearly, some 700,000 active duty service members are given Permanent Change of Station orders. Taking into account the frequency in which reassignment occurs: every two to four years, home buying can be particularly difficult for active duty personnel. It’s hard to settle down with the fear of relocation looming over you. Even more daunting is the process of selling your home after a PCS. Beyond the emotional burden of leaving the home you have come to love is the challenge of actually finding a buyer and moving it. With a soft housing market, many military members have seen their houses go unsold for months.
Assessing your options and establishing a plan can make a tremendous difference in getting your home off the market.
For service members who need assistance selling your home without equity remember, VA Home Loan Centers has programs designed to assist “upside down” owners who need to sell homes. This program is provided at no out of pocket cost to eligible applicants. VA Home Loan Centers will aggressively market the property; where appropriate offer closing cost credits and other incentives to help secure a buyer. VAHLC will also provide representation for the seller if they do not have an agent.
If you choose to have VA Home Loan Centers represent you in selling your home as a short sale, you can stop using our services at any time. VA Home Loan Centers charges no up-front fees to assist you with your short sale. Our partner real estate brokerages will charge a real estate commission but if the bank agrees to a short sale, this is paid for by your lender. VA Home Loan Centers is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change the terms of your mortgage including approving your short sale. It is recommended that you continue to make payments on your mortgage throughout the process. Should you default on your payments, you can see a negative impact to your credit report and your home could be foreclosed upon.
For personnel that have enough equity to sell, it is imperative that you follow the necessary steps:
Find a good real estate agent:
There’s no shame in not being an expert, if you don’t know the market, or the legalities and procedurals accompanying a sale, find representation that does. VA Home Loan Centers has a network of REALTORS that can represent you (in some cases at no out of pocket cost).
Price your home accurately:
Of course you want to sell for as much as possible, but overpricing will negate the interest of potential buyers. Fair market value will ultimately be more profitable.
Beautify your home:
Mow the lawn, paint the garage, or throw out the mound of garbage, whatever you can do to make your home as aesthetically pleasing as possible do, this is important in appealing to potential buyers. First impressions are everything.
Effectively Market your home:
No matter how great the property, if people don’t know it’s available, they won’t buy. Write a quality advertisement and get it to the proper channels – online, in newspapers etc. Hold open houses, put lawn signs up, and use photos wherever applicable. By far, the most common way to advertise a home is through the MLS (Multiple Listing Service). The MLS is a REALTOR® tool originally used to tell real estate agents what homes are for sale. Since the internet revolution, MLS data can be syndicated and showcased on Trulia, Realtor.com, Zillow, etc.
Get your home inspected:
Potential buyers hold the authority to have your home inspected, you don’t want to be caught off guard by unwelcomed surprises, find out how your house scores.
If all else fails, consider lowering your asking price, renting your home, or living on barracks and having your family stay behind. Any home can be sold if it is priced right.
To have VA Home Loan Centers connect you with a REALTOR® contact us now