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Old 12-20-2018, 07:36 AM
 
20 posts, read 34,026 times
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The relocation company period does not give the buyer an option period. You get an inspection period, but no option period. Is buying from a relocation company too risky? Especially for a house which is $600K+.
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Old 12-20-2018, 07:51 AM
 
Location: plano
7,887 posts, read 11,401,514 times
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I would expect a home for sale by a relocation company to be a well kept home. This approach is only used by a few companies and their motivation is to take the burden of dealing with a home sell off the employee. If you like the house go for it it not dont. They are more likely to be motivated to move the home off their books at a fair price rather than hold on to get top collar for a home like people might do so.

Make an offer you can live with if you want the home and go for it.... but assume you will be the buyer if you get your offer accepted.
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Old 12-20-2018, 10:13 AM
 
1,237 posts, read 2,017,815 times
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Negotiate/offer a price that accounts for these risks. They want to get off the property ASAP and will deal accordingly. But also be aware you can't go too low as other offers will come in.


These homes are often a great deal but can require some work. If you aren't okay with that, I'd suggest moving on.
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Old 12-20-2018, 12:34 PM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 13,730,475 times
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I bought a house once from a relo company. It needed work and they would not do anything so factor that into your offer. Someone else wanted it but they put in a way lowball offer so we got the house just by offering asking price.
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Old 12-20-2018, 05:57 PM
 
1,478 posts, read 1,512,946 times
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Is an ‘option’ period customary? I know most people get an inspection contingency period, but why put an offer in if you’re not sure if you want it?
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Old 12-21-2018, 06:21 AM
 
Location: Dallas/Ft. Worth, TX
3,067 posts, read 8,405,839 times
Reputation: 5715
Quote:
Originally Posted by newhomebuyer281 View Post
The relocation company period does not give the buyer an option period. You get an inspection period, but no option period. Is buying from a relocation company too risky? Especially for a house which is $600K+.

Buying any house from a relocation company is a risk and certainly a huge risk if you have no method to back out without large dollar loss such as an option period. One major issue with buying these homes are the lack of required disclosure for previous issues. They are generally not required to disclose anything if they were not the resident of the home. Any disclosure you do receive is suspect at best.
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Old 12-21-2018, 06:24 AM
 
Location: Central New Jersey
2,516 posts, read 1,694,459 times
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One of my brother in law buddies bought a home that was used exclusively as a relocation home. He got a great deal and it was immaculate and everything was up to date.
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Old 12-22-2018, 11:06 AM
 
399 posts, read 641,426 times
Reputation: 343
The Option period is typically 7-10 days which is used to get inspections and then any specific expert/contractor in to evaluate the cost of what inspector might have found. I am not sure why this is such a big deal. Why would you contract to buy and home if you just might want to back out? Again it should be used as time to get inspector and any possible expert out to determine any deficiencies so you can then negotiate those with seller. Does the agreement agree to repair or give seller contribution if these type of things are found? If not then walk away.
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