Relocation Companies and Home Buyouts
With real estate inventories at 10 or 11 months, a new era of relocation company home buyouts may be here. Home buyouts take place when a company which is paying relocation expenses for a new or existing employee buys the employee's old yhome, allowing him or her to move and buy a home in the new location.
Companies do home buyouts for two main reasons:
- Need to move employee before old home has sold
- Want to shelter employee's reimbursed home sale costs from being taxable income to the employee
Just as a normal home sale, in a home buyout you have to determine the sale price -- and it's not always what the home owner thinks it should be.
Most commonly, your employer's relocation company will get two or three "broker price opinions" -- that's a report done by a licensed real estate agent, giving his or her studied and researched opinion as to your home's value. If the BPO's are within 5% of one another, they'll use the average to determine the buyout price -- if they're farther apart, they'll order another BPO and take the average of the closest two.
Some real estate companies have relocation departments internally -- but here are some solid, national relocation companies which can do complete home buyouts:
- Sirva Relocation
- Bristol Global Mobility
- GMAC Global Relocation
I used to own a relocation company, and still have great contacts in Colorado -- so if you're moving to or from Colorado, please call me and I'll get you started!
Quick interest rates
| Program | Rate | APR |
| 30 year fixed | 6.375% | 6.623% |
| Jumbo fixed 30 | 8.500% | 8.652% |
| 5 year ARM | 5.750% | 6.159% |
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