We recently worked with a homeowner who was PCSing and needed to relocate to Jacksonville, Florida in the near future. His home was located in Oceanside off of Highway 76 near Old Grove Road, with easy access to major thoroughfares and Camp Pendleton. Like many of the other 42,000 active duty personnel stationed there, he purchased a home that was affordable and close to the base- Oceanside is a great option.
Overall, the home was in a great location and would normally be a quick sale in San Diego County (given the current conditions of the market). But, his situation was far from “normal.” He was on a very strict and short timeline of just a few weeks as he had listed his home prior to calling us, but he hadn’t received offers yet. The home was needing a face-lift when it comes to curb appeal and the interior could have used a bit of TLC as well (typical new flooring, cabinets etc.). Running against the clock, he decided to contact a cash buyer (us) to see what we could offer for the home. We gave him a cash offer that he accepted, and we were able to close on the sale within his tight timeline.
Renting or Selling When You Receive PCS Orders
The benefits of renting the home: Some of the obvious benefits of renting are that you don’t have to worry about waiting for the home to sell and prepare for it to sell. Because the rental market is so strong in San Diego, including Oceanside, you shouldn’t have a difficult time getting the home rented out fairly quickly. In addition, there are benefits to having someone essentially pay down your mortgage for you. When you do find yourself ready to sell, you’ll have more equity built in the home. Also, you can claim some expenses like interest incurred to rent the home our and reduce your tax bill overall.
The negatives in renting while away on orders: One of the biggest “cons” in renting while in a different country or state is just that…you’re nowhere near the home and can’t keep a close tab on its condition. Ultimately, being an out of area landlord is just difficult. Having a local property management company care to your rental needs helps, but you’ll still encounter issues with repairs requested, bad tenants, etc. Also, paying for property management will eat at any profit you were to gain in renting.
When you lose a tenant and there is a gap in occupancy, this can also have a big impact on your wallet while you’re paying for two homes.
The benefits in selling the home: The largest benefit in selling your home when you receive orders is that you can unlock equity in the home, and relocate with cash in your bank account for whatever’s next. Plus, you can relocate with “no strings attached.” You won’t be bogged down with landlord issues, and can relocate with less stress. Having the financial gains from the sale of your house will allow you to comfortably transition into your new home, especially if you choose to buy in the new location you’re relocating to.
The negatives in selling before PCSing: In some cases, selling before you relocate can be a pain. In a traditional sale, there is no guarantee that your home will even sell. If you find yourself in your new location with a home listed on the market in a different state or country, navigating the transaction can be stressful. But, maybe most of all, selling may be tough if you are underwater on your mortgage currently or don’t have much equity built up.
More issues may present themselves if you are moving and selling with a family. Moving your family can be a complicated and expensive process.
A Simple Solution to Selling When You Receive PCS Orders
If you know that you don’t want to rent out the house when PCSing and you’d like to sell, then you do have an option that is easier than a traditional real estate transaction. Being a veteran owned business, we understand and care about your situation. We also understand that many relocation scenarios are incredibly time sensitive. Because of your time constraints, we put you in 100% control of the sale of your home. You choose your closing date, your move-out date, and you determine what works best for your situation. Plus, you’re paid cash upon closing. You don’t even need to make any repairs or clean a thing. There’s no waiting around through marketing and showings to receive offers and endure the long escrow process- the process is simple.
We’ll begin by asking you about the condition of your property, we’ll take a look at the neighborhood and assess the market, and most importantly, we’ll learn about YOUR goals for selling. We’ll cater the entire sale to meet your timeline and needs.