Have You Ever Bought a House from a Relocation Company?

[Joshua Dorkin]

We're currently house shopping and came upon a property that we really love.  Upon submitting an offer, we were told that the sale is going to go through a relocation company and we have to redo the offer and sign all sorts of binders.  I've never personally worked with such a company on a deal and I was curious what others have experienced.

A few things I've discovered:

- These deals sound like they may be easy on paper (less emotional seller), but it seems like they are far more complicated.

- Contracts are almost completely in the favor of the seller (relo company) and there is little negotiation room on changes to their paperwork.

In the end, we're probably walking away from this one because of the restrictive nature of the contracts.

What is your experience?

[Mike Hibbs]

Personally my wife and I have relocated 4 times, and had to sell our home through a relo company.  The home will have TWO (Typically) appraisals done, so the relo company has a good idea on it's value. 

From my experience as a Agent, I have seen relo homes sell at a discount due to the fact the relo company no longer wants to maintain the payments and the home.  Similar to a bank owned home.  

I would let the fact that the home is a relo deter you, just be ready to sign a lot of documents stating the relo company owns the home, and they may be stuck on 'number' due to the appraisals.  

If important to you, I MAY be able to dig up some paperwork for Cartus Relo, so you are able to read the verbiage.