Rent it out
If the rent covers the mortgage and you expect to come back, keeping it can make sense. Plan for managing it from a distance and for military tenants who may get orders too.
PCS orders and a Virginia house to figure out
Sell it or rent it out? The federal protections and the tax rule worth knowing before you decide.
No obligation. No pressure. Takes about 2 minutes.
How it works in Virginia
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Know your mortgage protection
If your mortgage started before your military service, the Servicemembers Civil Relief Act says a sale or foreclosure during your service, or within one year after it, isn't valid without a court order or a written waiver.
Source: 50 U.S.C. § 3953
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Renting it out? The tax clock can pause
To exclude up to $250,000 of gain ($500,000 for married couples filing jointly), you generally need to have owned and lived in the home 2 of the last 5 years. On qualified official extended duty, you can choose to suspend that 5-year period for up to 10 years.
Source: IRS Publication 523
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Military tenants can leave on orders
If you rent to another servicemember, they can end the lease when they get PCS orders or deploy for 90 days or more. With monthly rent, it ends 30 days after the next rent due date following their written notice.
Source: 50 U.S.C. § 3955
Your real options
Sell for cash
If your report date is fixed, a cash sale can close in as little as 7 days with no fees or commissions, so you aren't managing showings from your next duty station.
List it with an agent
If you have months before you report, listing often nets more. We'll show you both numbers side by side.
See both numbers
Example: a $250,000 home
| Offer | $205,000 |
|---|---|
| Repairs | $0 |
| Commissions | $0 |
| Closing costs | $0 |
| You walk away with | $205,000 |
| In 7 to 14 days | |
| Sale price | $250,000 |
|---|---|
| Repairs | about $8,000 |
| Commissions | about $13,800 |
| Closing and holding | about $6,000 |
| You walk away with | about $222,200 |
| In 60 to 90 days | |
Example only. Your numbers depend on your home and market.
This page explains general rules. It isn't legal or tax advice. Talk to your installation's legal assistance office or a tax professional about your specific case.
Frequently asked questions
Does the SCRA protect me from foreclosure?
If your mortgage started before your military service, a sale or foreclosure during your service or within one year after it isn't valid without a court order or a written waiver.
Can I rent my house out and still get the capital gains exclusion?
The exclusion generally requires owning and living in the home 2 of the last 5 years. On qualified official extended duty, you can choose to suspend that 5-year period for up to 10 years.
What if my tenant is military and gets orders?
They can end the lease on PCS orders or a deployment of 90 days or more. With monthly rent, it ends 30 days after the next rent due date following their notice.
Who are you?
We are real estate investors based in Baltimore, helping homeowners since 2016. We buy houses directly for cash. We are not a licensed real estate brokerage and do not list homes ourselves; if listing could get you more, we show you the math so you can choose.