Selling your home as a part of a job transfer can be done in different ways depending on your company’s policies and move package. Corken + Company are Denver relocation specialists to make your move as seamless as possible. Here are some ways that companies assist relocating employees in selling their homes:
Reimbursement:
A set amount is offered that will reimburse for specific move related expenses and acts as a cap on what a company will pay.
Third Party Relocation:
This happens when your company pays for everything. They will assign a relocation specialist to coordinate the movers, a real estate agent for selling and buying homes, etc.
Lump sum:
A one-time amount paid to the employee. The employee is responsible for managing the entire process and doing all the work of getting the house sold and family moved. This amount is decided up front and the employee spends the money as needed.
Direct Billing:
Lastly, the company pays for certain move expenses directly and no upfront cash is required by the employee for the agreed upon service. This offer can be combined with other types of relocation options.
As Denver relocation specialists it is important to understand what your company will and will not pay for. In addition, what does this look like if your house doesn’t sell right away. Will your company help cover the cost if you need to sell your home for less than you owe? Will they buy your home from you? This is called a “guaranteed buyout”, if you can’t sell your home after a certain period of time?
In the end, moving for your career can be complicated. Make sure you’ve read the fine print and take full advantage of the package your company offers you and the resources you have access to. Most importantly, see if they offer the option to work with a real estate broker. Ensure your broker is knowledgeable, experienced and able to create strategies for selling on a deadline. Lastly, keep in mind that if a home doesn’t sell due to poor market conditions or your need to sell quickly, renting may be an option until the market improves. Remember, Corken + Company is here as your Denver relocation specialists, and hope to make moving as stress free as possible.
