Buying from relocation company?

Re: Buying from relocation company?

• jengratz

  January 2012

  We just bought from a relocation company and they have been easy to work with ... I hear that some are slow to respond so just know that ahead of time.  I think whether the initial offer can be low or not really depends on how long the house has been on the market -- the home we bought was only on the market for 4 days so we couldn't go too low.  I recall reading something about most deals ending up right around 5% under asking price when dealing with a relo company ... we started lower than that and ended up at right about that mark.  

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• Bootsie12

  January 2012

  Oh, that's great news. The home were putting an offer on has been the market for 120 days, so we should have some room for negotiation. Thanks for the help.

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• cheetah*run

  January 2012

  You can save a ton of money buying a relo home!

  Start low, you never know what they will take especially if the company does not want to carry the home.  Also, before a home is taken into inventory there are two appraisals, pest,  and legal review of the property.  To save these cost, you can ask as part of your offer for a copy of these documents.  It will save you money for not having to repeat the same inspections and you can offer a number with more facts.

  There was a fantastic relo home we loved, but the commute was 75 mins one way  without weather!  The home was placed on the market for 325K for 60 days, then dropped to 299K, then 285K.  We were reconsidering the home when our relator called and said it sold for 259K! 
  

   

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• vanillacourage

  January 2012

  We bought from a relo company - got a great deal b/c they didn't want to carry the house for any longer than necessary.  Only oddball thing was that we weren't initially given a seller's disclosure, because obviously a corporation cannot live in a house and is therefore not required to fill one out.  Our REA was able to get one from when the house was on the market by the last private seller so it turned out ok. 
  
  We also found that in negotiations they were unwilling to have anything fixed before close, but would instead just knock $X off the purchase price to cover it.  So if there's anything major, be 100% sure that you have an accurate estimate or else you'll have to cover the difference if the fix turns out to be more expensive than what you negotiated.
  

  
  DS1 born June 2008 | m/c at 9w March 2011 | DS2 born April 2012

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