Selling Your Home to Relocate

Determine the Value of Your Home

When you need to sell your house promptly for a relocation, you don’t have time to consider home equity, curb appeal, or the fact that you planned to install quartz countertops next year; you have to sell now. You want to ensure that whatever you end up selling your house for covers the cost of any remaining mortgage balance and any selling expenses. Expect those expenses to cost between 5 and 10% of your total mortgage balance. The last thing you want is for your relocation to put you in a financial bind. 

You should come out stronger than you went in. A home value estimator is an excellent tool for quickly determining the value of your home. Of course, you should still get a relocation appraisal or a comparative market analysis on the house to ensure you’re selling it for the right price. If possible, avoid investing new money in your home and sell it as is to a we buy houses Tacoma company. 

When you’re in an unfamiliar place, you’ll want to have as much cash on hand as possible during and after the relocation.

Utilize Relocation Packages

The cost of relocating depends on a few factors, and it might cost you thousands of dollars. Some companies have relocation packages in place for their employees. By utilizing these packages, you can ensure that there are no issues in the relocation process. Your options will include the following. 

Lump Sum Relocation Package

This is a standard relocation package in which money is set aside for each employee to help pay for their moving expenses from start to finish. Closing costs, realtor fees, long-distance movers and packaging fees, shipping costs, materials, and even time missed at work can all be covered.

Executive Relocation Package

An executive relocation package covers the costs and expenses of relocating a company’s upper management. In some cases, you may be tasked with relocating the corporate headquarters, which requires you to assist with long-term storage, vehicle shipment, and temporary executive housing.

Relocation Bonus

A relocation bonus is typically used when the overall relocation package is insufficient. It can cover unexpected expenses such as lease break penalties or the higher cost of living in the area where the employee is relocating.

Relocation Reimbursement

A reimbursement works like a standard relocation package, except that the employee pays for everything out of pocket, and the employer is responsible for repaying them. This helps to ensure that the employee does not run out of money. However, problems arise when they do not have enough of their own money to cover the cost of relocating.

Your Options for Selling Your House During a Job Relocation

When your best option is selling your home, here are your choices. 

Cash Offers

If you’re hurrying due to corporate requirements or whatever else is motivating you, accepting a cash offer can be a great way to do so. Because you only have 0-30 days to settle in before starting your new job, you will have little time for loan applications, open houses, showings, and inspections. In a traditional home-buying situation, the buyer may take up to 60 days to close on your home. However, choosing to sell my house fast Tacoma, Washington, when advertising the sale of your home, is a much faster way to sell. 

The disadvantage is that you will have to accept much lower offers because cash offers will typically come from investors. You can also sell your house “as-is if you’re concerned about the condition of the house. If you want to avoid inspections to expedite the process, selling the house “as-is” requires buyers to purchase the home without requiring you to make any repairs.

Work with an Agent

If you don’t want to sell my house fast Tacoma, the second option is the more traditional route, which you should take if the company offers a good relocation package. Hire an agent who specializes in relocations or quick home sales. Take a lot of great photos, improve your curb appeal, and do whatever you can with the time you have to improve the home’s overall appearance. This will make the sale more appealing and will likely bring in more buyers.

Rent Out Your Home

You can also opt to become a long-distance landlord if you don’t want to sell my house fast in Tacoma. Perhaps the rental market is looking promising, and you don’t mind being responsible in exchange for a little extra cash every month. Of course, your home must meet a few unique sets of criteria in order to be affordable to the majority of renters. Certain cities are also more popular than others for renting. 

Remember that being a landlord is difficult, but if you live in another state, you’ll probably need to hire a property management company to oversee everything and fix things at the house when you’re not there.

Endnote

If you are relocating to a new location for work, you should take advantage of your employer’s relocation packages. These packages can help to simplify the relocation process by providing the necessary financial assistance. You can also sell your home quickly and choose from the options above. If you don’t find a buyer on time, you can rent out your home and leave right away. 



You can also accept a cash offer or work with an agent, as this can speed up the home sale. 

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