Relocation In or Out?
Relocation is a part of the corporate lifestyle. If it was not for a relocation package from corporations many employees would not be able to relocate because of the expense of moving. If employees do not relocate then many would never move up the ladder to a more challenging job, and of course better pay.
Sellers, when your employer offers you a relocation package this is a huge help and savings. It is so important that you use a Realtor that understands the process. You can jeopardize your benefit package if the process is not handled correctly. You can not hire a realtor from XYZ Realty and expect the realtor to know how to protect you and know the process. The paper work is very different, the process is very different. Another issue/problem you may run into is the buyer’s Realtor. Many times the buyer’s Realtor does not know the process and this lack of understanding can hurt the possibility of putting a contract together. So it is very important your Realtor communicates with the buyer’s Realtor to insure the buyers understand there is nothing about a relocation property that will harm their position. The process is just very different, so please make sure you choose a professional with the proper knowledge, training and field experience. A Seller’s relocation package generally consist of all closing cost paid, including Realtors commissions, moving company, and usually two home buying trips up to seven days each. Also there are different levels to the benefit package and it all stems from your employment level. Make sure you select the very best possible relocation realtor, ask questions. Make sure you understand, from your relocation counselor, all of your benefits.
Buyers, if you are being relocated with company benefits please check with your counselor because you want to make sure you use the benefits properly and please do not get ahead of yourself. The two prime mistakes buyers make when going on a house hunting trip is not getting pre-qualified with a mortgage person and if they have a buy-out on their home how long do they have to market the home before being offered a buy-out price. Most relocation companies do not make it clear that a buy-out on a home is not at market value but at a reduced rate, typically about 10% below market value. Two appraisers are hired to evaluate the home for a buy-out appraisal. Most buyers go into the home buying process assuming they will be offered a market value price. When the appraisals are complete the buyer finds him/herself short of money for the down payment. The primary way to insure you understand the process, make sure you select a Realtor that has years of experience handling these situation and a Realtor that will know what questions you should be asking your employer and/or relocation person.
Relocation does not have to be a stressful process. When working with a professional Realtor who has the training and experience that a relocation specialist should have your stress level should be low. For more information about the relocation process please contact us at 800-515-2134 or TheVogels@TheVogelGroup