Selling Your House for Relocation
It’s time to move. You have a new job offer across the country. You want to get on the road and get started. The problem is you own your existing home. You don’t want to wait to list it for sale with a traditional real estate agent. Yet, you cannot destroy your credit by just walking away. One of the options you may have is to use a relocation company, or relo company, to help you.
What Are Relocation Companies?
A relocation company is one that works with you and the employer to help the sale of an existing home to speed up the moving process. These relocation firms are often hired by employers to help employees move from one area to the next. They handle helping you with movers and even finding a home in your new location. They may also help sell your existing home.
What Are the Advantages of Using a Relo Company?
There are some key benefits to using a relo company for your home’s sale. Those include:
You are able to move faster. Most often, you are able to move within a few weeks of being ready to do so. This means you can start on your next job sooner.
In some cases, if the relocation company cannot sell the home fast enough, the employer is then able to purchase the property. This means a faster sales transaction for you.
Using a relocation company tends to mean you get numerous benefits. This includes help with the packing and unpacking. It may include help with a down payment on a new location to live.
HomeGo Can Help.
HomeGo is the nation’s largest home buying company, and we’re bringing professional experience, transparency, and assurance to homeowners who want an easier way to sell.
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What Are the Disadvantages of Using a Relo Company?
You may not have the ability to negotiate your home’s price or value much. This is all done by the company itself. For some property owners, that could mean a lower price paid.
It’s more of a contract process and less of an emotional process. That may mean that you have less say in who buys the home or what becomes of it.
You pay a significant fee for this service. This may be as high as six percent, or sometimes more. This cuts into any money that you are going to get for the home when it does sell.
What Else You Should Know
Relocation companies offer different services and costs. It’s important to learn what specifically is going to happen and the timeline for it. Keep in mind that once you sell the home to a relocation company, the buyer is more in control. These companies need to sell the property fast, which could mean it costs you in the long term. If you need to move quickly, consider a company willing to buy the home for you outright instead.
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Check out more of our information on relocation.
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