Are You a Veteran Selling a Home? Avoid These 6 Common Mistakes

While selling a home can be the start of a new chapter in life, fast-paced military owners' moving timelines can push people to make hasty decisions during the selling process. Whether moving into a retirement community, upgrading to a new home, or buying a home while on active duty, several challenges during a home transaction can postpone those plans.

Delays and postponements can easily lead to making rushed decisions and mistakes. Keep reading to learn about some of the most common pitfalls veterans and current military members experience during their home-selling processes.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Selling a Home Without Experienced Guidance

According to the National Association of REALTORS®, 11 percent of homes are sold by owners without the assistance of a real estate professional. While the sales are primarily successful, owners alone typically draw in less profit than their listed counterparts.

Service members should consider military relocation professionals who work to assist military personnel specifically with moving. These real estate professionals have resources and insider information for veterans and active servicepersons that help with pricing, selling, and relocation procedures. They can also explain the basics of VA financing for those looking to buy in their new location.

Over or Underestimating Home Value

While online resources or tax documents can give owners an idea of their home is worth, relying on such intuitive pricing is very risky. Many sellers realize months after the home has sat on the market and become stale that they ask too much for the property, while some owners know they've asked too little. Owners tend to have a greater concept of the home's worth versus what the current housing market dictates. This is where an agent comes into play that can offer realistic market speculations about value based on actual real estate market analysis.

Being at the Home During Showings

While many sellers feel like only they can truly show potential buyers the best features of their home, they can inadvertently make home shoppers a bit uncomfortable. Naturally, sellers are attached to the home and want to chat it up with buyers, but it's often best to leave private showings and open house days in the hands of an authorized agent. In reality, most of those looking would prefer to privately discuss the dwelling between themselves and their real estate representative.

Thinking That Being Under Contract Equates to Being Sold

Just because a home goes under contract, it does not equate to the house being correctly sold. Some more considerations and actions tend to take place before a sale is finalized. These include appraisals and home inspections, property surveys, titles to confirm, and buyers getting final approval from lenders to cover the cost. It's also important to keep in mind that buyers can back out at the last minute, so it's a good idea to continue showing the home until closing occurs.

Getting Too Involved in the Home Inspection Process

While the results of a professional home inspection might not reveal the effects the sellers are hoping for, it is important not to internalize these issues. Rather than feeling like buyers are trying to take advantage of the situation, sellers should work with buyers and their representing agents to find resolutions satisfactory to all parties.

Sometimes, making necessary repairs is acceptable, while some buyers might want to negotiate with sellers to protect their interests. Some veterans may qualify for repair discounts with military-friendly contractors.

Failing to Leave Room for Negotiations

While it's okay to have a firm bottom line for the financial compensation for the home, sellers, regardless of their military statuses, need to have a bit of wiggle room or be willing to make concessions or negotiations. Being open to making some conveyances concerning the realm of home closing costs, repairs or pricing can result in the loss of the sale.

Delays such as this could be problematic for active servicepersons who have a strict moving timeframe to report to their new assignment. Discuss with an agent about what areas of the transaction are negotiable along with those that are not.

Military Members and Veterans: Consider a Real Estate Expert

There are many reasons to work with a military real estate agent beyond avoiding these potential selling mistakes. Sellers are likely to see greater profits, find the process streamlined, and less stress overall is typically experienced. Working with real estate experts like the Military Home Search team who are experienced in working with military members can ensure smooth selling.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.