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Old 09-16-2008, 11:32 AM
 
Location: Nothing could be finer... I'm in S. Carolina!!
1,294 posts, read 6,027,111 times
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what does it mean when a real estate agent says that the sale and property is being managed by the person's relocation company? this is what she said, "the owner was transferred w/ his job and have already relocated. the home is being handled through the owner's relocation company and has been completely inspected and inspections are on file and available for review."

this is what the mls listing says:
Relocation Owned Property. Additional addendums required with submission of contract. Title work for closing has been ordered by Relocation company and will be provided to closing attorney. Please do not have buyer's attorney prepare title work.

what does all of this mean?

thank you!
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Old 09-16-2008, 12:15 PM
 
Location: Nashville, TN
1,177 posts, read 3,722,843 times
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It means that the house is no longer owned by the previous owner(employee who was transferred) but by the Relocation Company that bought it.
This is a fairly common situation when corporate relocations are involved. Many companies offer select employees a "house buy out benefit" as part of that employees relocation package. Basically, the employee has the option to try and sell their house themselves or to sell the house to a Relocation Company that is under contract with the employees company. The Relocation Company then turns around and puts the house on the market to sell. Hope this helps.
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Old 09-16-2008, 12:26 PM
 
Location: Nothing could be finer... I'm in S. Carolina!!
1,294 posts, read 6,027,111 times
Reputation: 407
oh ok. thank you! is that particularly good or bad for a buyer? are relocation companies willing to negotiate or will they just wait and wait until someone offers the full amount?

thanks again!
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Old 09-16-2008, 12:45 PM
 
Location: Nashville, TN
1,177 posts, read 3,722,843 times
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Quote:
Originally Posted by fisher33 View Post
oh ok. thank you! is that particularly good or bad for a buyer? are relocation companies willing to negotiate or will they just wait and wait until someone offers the full amount?

thanks again!
It's not bad for the buyer at all. Although Relocation Companies are in this to make a profit they will negotiate as they do not want to carry housing inventory. Also, usually the employees' company is eating the costs of the inventory house and wants to see it sold as soon as possible. In general, the longer an inventory house remains unsold the more flexibility for negotiating there is. IMO, the key for a buyer is to get an accurate Comparative Market Analysis on the market value of the house from an experienced Realtor. Then you might want to consider offering somewhere between 10%-15% below market to see what response you get, and you will get a response. One very good thing about buying a house from a Relocation Company is that there are no emotions involved on the seller side. It's strictly business.
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Old 09-16-2008, 02:18 PM
 
Location: Virginia Beach, VA
2,124 posts, read 7,927,762 times
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One more note on your relo houses, the owners did have to do an inspection before the relo company would buy, and they had to fix any issues that showed up. you should be allowed to see that inspection prior to putting your in your offer. I still suggest you get your inspection.... inspectors have been known to miss things....

shelly
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Old 09-16-2008, 03:33 PM
 
Location: Nothing could be finer... I'm in S. Carolina!!
1,294 posts, read 6,027,111 times
Reputation: 407
thank you both very much! this clears up everything. knew i could count on you all!

"city-data.com, 100x better than google", that should be the slogan.

Last edited by fisher33; 09-16-2008 at 03:46 PM..
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Old 09-16-2008, 04:56 PM
 
Location: Barrington
45,452 posts, read 33,761,089 times
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Relo company - owned homes are among the best values in the marketplace. If you have the ability to close quickly, you are in the best postion to get a terrific home at a good price.
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Old 09-16-2008, 08:05 PM
 
Location: DFW - Coppell / Las Colinas
31,673 posts, read 36,338,727 times
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Good advice above... I see you are in Big D, note that many relocation companies will not let you have your standard "Option Period" here in TX. They let you do your inspections but eliminate the ability to terminate the contract. Instead they usually negotiate repairs up to a certain dollar amount.
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Old 09-16-2008, 08:12 PM
 
Location: Nothing could be finer... I'm in S. Carolina!!
1,294 posts, read 6,027,111 times
Reputation: 407
the house is actually in south carolina, we're moving back soon and i'm looking already. thank you for the post!

that's good news middle-aged mom! i also think it's good doing business w/ a business so there's nothing personal like gbone said too.

thanks again everyone!
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