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Military Relocation – Selling Your Home

So, you’re getting ready for a big move, and that includes selling your house – it can feel like a lot, but you’ve got this! Here’s a breakdown of advice to help you navigate selling your home during your relocation:

  • Start the ball rolling early. Seriously, chat with your family about the move as soon as you can. If you know where you’re headed, get a feel for the real estate sceneBGRS-Realtor---Selling-Home there and maybe even reach out to a realtor in that area. It’s a good idea to try to sell your current place before you start planning your House Hunting Trip (HHT).
  • Get a property appraisal. This is a must-do! It helps you figure out the market value of your place, which helps with selling and creating your relocation budget. Make sure to choose an appraiser from the list on the Member Secure Website (MSW). Keep in mind that your listing price shouldn’t be more than what the appraisal says.
  • Understand how timing affects your benefits. There are benefits you might be able to claim related to selling your home. Just make sure the closing date of the sale is no more than one year before or two years after your Change of Strength (COS) date or the date your household goods are shipped, whichever is later.
  • Look into Temporary Dual Residence Assistance (TDRA). If you find yourself juggling two homes at once, you might be able to claim some expenses for your place that hasn’t sold yet. This could cover things like mortgage interest, property taxes, utilities, and insurance. The key here is that your old home needs to be vacant and actively on the market.
  • Use Third-Party Service Providers (TPSPs). BGRS has a directory of real estate agents, appraisers, and lawyers who have agreed to certain rates and standards. If you decide to go with someone not on the list, and they charge more than the agreed rates, you’ll be responsible for those extra costs. If you use a participating TPSP, BGRS will pay them directly; otherwise you can request an advance from BGRS and then submit an expense claim.
  • Keep it “arm’s length”. When choosing a real estate agent or any other TPSP, make sure it’s a transaction with someone not related to you. That means no direct family like parents, spouses, siblings, or in-laws.
  • Keep all your paperwork. Hang on to every receipt related to selling your place. You’ll need them to claim your benefits.
  • Be ready for extra costs. Not everything related to your move will be covered. It’s wise to put some savings aside for unexpected expenses.
  • Use the online resources. The BGRS website and MSW have tools to help you see your relocation budget, track your spending, and file claims.
  • Talk to BGRS Agents. They’re there to help you through this! They can explain the Relocation Directive, estimate your funds, create a budget, and help with paperwork. Don’t hesitate to book a planning session with them to talk about your specific situation.

Remember, by taking things step by step and making the most of the resources available, you can totally handle selling your home during your relocation. You’ve got this!

Why You Need an Approved BGRS Realtor

Okay, so you’re wondering why it’s a good idea to use a realtor that’s approved by BGRS? Let’s break it down in a friendly way:

  • They’re Part of the Team: Find your BGRS Approved Realtor here. A handy list of Approved Realtor who have agreed to certain standards and rates. Think of them as the preferred team, known as Third Party Service Providers (TPSPs).
  • Keeps Costs Down: Here’s the deal – if you pick a realtor who isn’t on the BGRS list and they charge more than the agreed rates, you’re on the hook for the extra costs. Using a BGRS approved realtor helps make sure you don’t go over budget.
  • Direct Payment: When you work with an approved realtor, BGRS pays them directly. It’s way easier because you don’t have to pay out of pocket and then wait for reimbursement.
  • Easy Access to the List: Once you’ve completed your Preliminary Relocation Assessment (PRA), you can find the list of approved realtors on the BGRS website or Member Secure Website (MSW). It’s a great way to make sure you’re working with someone reliable.
  • Keeps Things Fair: Using an approved realtor also helps ensure that everything is on the up-and-up. The transaction needs to be “arm’s length,” meaning not with a family member as defined by the Canada Revenue Agency. You can’t use your mom, brother, in-laws, or other immediate family members as your realtor.
  • They Know the Ropes: Realtors on the BGRS list are familiar with military moves and the Canadian Armed Forces Relocation Directive (CAFRD). Their experience can make your move way less stressful and they’ll understand the timing involved in military relocations.
  • Help With the Paperwork: Agents and approved realtors can help you fill out the forms and understand what needs to happen during the move. If you’re not sure about something, they can also help you figure out the Relocation Directive.
  • Makes the Most of BGRS: Using a BGRS approved realtor makes the whole system work better for you. BGRS is set up to support military folks and their families during their move, including managing funds and claims, as well as travel arrangements.

In short, using a BGRS-approved realtor means you’ll likely save money, avoid direct payments, be sure you’re working with a pro, comply with regulations, and have a smoother, less stressful relocation process. It’s about making sure you’re taken care of during your move.

 

Find Your Approved BGRS Relocation Realtor Here

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