The Process of Buying a Relocation Property

published 2 years ago by Mike Beacom

The process of buying a relocation property isn’t much different than buying a normal property. There are a few small details to be aware of, however.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleBuying a relocation property isn’t all that much different than buying any other property. However, there are a few small differences that we think you should be aware of. When you’re negotiating a contract on a relocation property, you can still ask for the same kinds of terms you would on any other property. You can negotiate closing costs, a home warranty, title insurance, and various inspections. However, throughout the process you will have to do a lot of paperwork. Because the relocation company never occupies the property, they will require the seller to sign a lot of things up front, including disclosures.Another difference in the process of buying a relocation property is the fact that you are penalized for not closing on time. Usually, they will charge a daily per diem penalty. To get around this, make sure you give yourself adequate time when writing your offer. If you want to close in 45 days, write in the contract that you will close in “60 days or sooner” so if there is a problem, you won’t get penalized.Make sure you give yourself adequate time to close.The relocation company may also handle repairs differently than a typical seller. Instead of fixing each item on an inspection report individually, they will likely want to put all of those repairs together into some sort of credit. All in all, purchasing a relocation property isn’t much different than buying a regular property, but you should be aware of these things.If you have any questions for me about relocation properties or anything else relating to real estate, give me a call or send me an email. I look forward to hearing from you.

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