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Relocation Companies
Anyone have experience with them? Tips on dealing with them? We are very possibly taking a transfer with DH's job and we will be selling our house and buying a new one through the relocation company. We have read the policies and it sounds a little complicated and I am nervous about not getting what we need out of our house. One of DH's company's policies is that if the house hasn't sold they get an appraisal after 75 days on the market and offer us 95% of the appraisal value for our house and we can then sell it to them. Also, the appraisal has to be within 5% of the REA's market analysis. I know relocation companies have lots of inspections done and make sure the house is in condition to sell, so I am afraid our house won't sell, the relocation company will back out and find a way to not buy our house, and we will be stuck with two mortgages.
It probably isn't as complicated as I'm making it and won't be nearly as bad as my worst fears, but I can't help but worry about these things a little. Throw in having a new baby sometime shortly after we will be moving, and it is very stressful! So...anyone have relocation experiences to share?
Re: Relocation Companies
If you're that nervous, have an attorney look over the contracts for you. I've never heard any bad stories from the sellers' end of a relo company - lots of paperwork, yes, but no horror stories. If they say all that about buying it, I'm quite sure they mean it and there are signed contracts to back it up.
It's a horrendous experience as a buyer, though. Having gone through it once, I don't know if I'd do it again. The hoops a relo company makes you jump through as a buyer makes an IRS audit seem like a free trip to Bermuda. But that's as an outside buyer - just someone who saw the house on the MLS and put an offer in. I don't know how it'd work for you being inside the fold. Talk to them about the buying end of it - are you limited to properties in their stable? That would concern me most.
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