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THE MILITARY HOME BUYERS’ CHECKLIST
By Joe Gladden, Captain, USN, retired
Veteran Realtors Serving America’s Military, Inc. (VR SAM®)
Published in Military.com
No two military moves are exactly alike! However, there are common concerns that factor in just about every military PCS move, such as; housing affordability and resale value, schools for your children, spousal employment, and the “commute,” which may range from a non-issue in some areas to a critical issue in areas such as the metro DC region.
Although much of your planning, and many of your actions hinge on written orders, you cannot start planning the move too early. All too frequently, PCS orders and move planning occur when the military member is deployed, leaving the spouse with the challenge of planning the move while attending to that “small matter” of managing the household. Since our military training drilled us in organizational skills and methodical problem solving, and since many military specialties live and die by the “checklist,” we offer the following “checklist” as a point of departure for the “ideal military move.” It is worth stating again that you cannot start planning your move too early, and we recommend a house hunting trip (if feasible) of no later than 60 days prior to your desired move in date when feasible. By the way, this checklist is easily adaptable for our civilian clients.
MILITARY HOME BUYERS’ CHECKLIST
No earlier than___________ No later than___________
2. If applicable, contact your local Realtor (to sell your home) no later than 90 days before your ideal “move out” date from your present home. __________
3. Contact your Realtor at your new duty station as soon as you have verbal or written orders.
Contact date: ________ Name / company: _________
Cell Phone: _________ Email: _________________ Web Site: __________
Company 1 Company 2
% Down Payment
Org / Discount Points
Est Lenders Fees
Est Settlement Fees
Lock In Requirements
Maximum Loan Amount
Does loan officer attend settlement?
· Click here for up to date military pay scales including BAH rates.
Click here for a mortgage calculator.
Maximum Comfortable Monthly Payment (PITI) ________
· (PITI = Principal + Interest + Taxes + Insurance)
· Add home owners association (HOA) dues where applicable
Home Price Range for Search _________
· Required Check in date ________
· School Considerations ________
· PCS shipment considerations ________
· Spouse Employment Considerations ________
· Other Considerations ________
Ideal Move In Date _________
· Contract ratification
· Coordinate settlement date / time
· Contingency follow up and completion:
· Home Owner’s Insurance Binder
· Home Owners Association Documents accepted / delivered
· Power of Attorney executed if necessary
· Final Walk Through scheduled / completed
· Client follow up and assistance tailored to needs
VR SAM® hopes this is helpful and invites your comments and / or questions!
Note 1: The importance of carefully choosing your lender cannot be overstated. There have been too many unhappy instances of unscrupulous people taking advantage of unsuspecting home buyers. Many of these have occurred from internet advertisements and applications. We strongly recommend using lenders based on company reputation, referral from friends and real estate agents, and then ONLY after a lengthy interview with the broker / lender, in person when possible. An excellent indication of the broke/lender’s reputable and commitment, is whether they accompany the home buyer to settlement!
(Copyright protected: Republished with the permission of military.com, Inc. )