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Any experience with corporate relocation listings?
Found a house that we liked and found out that it's a corporate relocation, but the seller is still living there. I'm assuming that means they're in the part of the process where they can sell it themselves and get a bonus for doing it by a certain date.
We put an offer in at 95% of asking and they aren't interested. The listing agent passed along to my agent that the sellers are very difficult - they think their home is worth about $150K more than it is and want full asking, they don't allow many showings at all and they're very slow to get back to her on things. She doesn't think they're going to accept an offer any time soon.
We really like the house and I'm trying to figure out what their angle is. Do they want it to go into corporate inventory? Is there some benefit for them to do that? Will we have a better shot once it goes into corporate inventory?
Re: Any experience with corporate relocation listings?
For your own sanity, forget this house. Buying a house isn't a fun process, and sellers like this will make it even worse. They obviously don't want to move, don't want to sell, are out of touch with reality...good luck negotiating on inspection items or even getting them to the closing table in a timely manner.
They may very well want it to go fully to the relo company so that they don't have to deal with any of it. Depending on how the company does it, the company may buy it outright from the sellers. Or, like the deal we were involved with, they may just pass along the paperwork to the sellers and you have to get everything double signed and double approved by two parties - the relo company and the sellers - a PITA I can assure you.
I'd only keep an eye on this house if it's going to fully go to the relo company after a certain date, and only if that date works with your timeline. Unless you're in a tight market, there should be lots of other houses to check out. GL!
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Thinking of doing cosmetic updates to a dated home? These were our costs.
When working for a Fortune 10 company and going thru corporate relo, any and all offers were presented to the corporate relo company and myself. I was not the only one that saw the offers. Since the house was corp relo the company wanted to sell it asap and obviously if an offer came in too low I could decline but there was always the possibility that the corp relo would pay ME the difference in what the buying price was vs the appraised value.
You could go in at an angle wanting to deal with the actual corp relo and see if that is a possibility...