There are many reasons for relocating, but a common one is for a job. This often entails speed and quick decision making, but it is also filled with excitement. The chance for new living arrangements, economic changes, and professional growth are wonderful things to strive for in America. However, before the jump into the next adventure can begin, if you’re a homeowner you have to wrap up details about the sale of your current property. In general, selling a house can be a major headache, but it can be especially strenuous when you’re in a hurry to up and leave. This article will help you formulate the perfect plan to get your property sold for a job relocation, and get it sold FAST!
First Thing’s First
If you have been assigned to relocate for your job or were given the chance to move and start afresh somewhere else at a new company, the first thing you need to do is to ask your new employer if you have relocation benefits or what is often referred to as a relocation package. Odds are, your company will offer some kind of help with relocating, especially if they required it in the first place. Some lucky few even get full compensation for any costs associated with moving. You may also be able to negotiate for more compensation if you feel what you are offered is not adequate.
Relocation packages will likely contain any combination of the following (list provided by CapRelo):
- Full pack and/or unpack services. The employee’s household goods are packed by a moving company, saving the employee time and stress. After arriving at the new destination and home, moving company personnel unpack the household goods.
- Quality moving company service with reasonable insurance coverage. Some moving companies are known for quality moves, some are not. Since moving charges are usually based on total weight, insurance for damaged or lost goods should be equal to your goods’ value.
- Home sale or lease-breaking penalty assistance. Home sale help can come in a variety of ways, from company-sponsored reimbursement for money lost on quick home sales, professional marketing help to accelerate the timing of sales to the employer buying the home. Renters can expect employers to pay contractual penalties for early lease termination.
- House-hunting trip, minimum one. Standard relocation programs commonly include at least one, preferably two, company-paid house hunting trips of short duration to give the transferee and family opportunities to find new homes. House-hunting expenses incurred in looking for a new home: transportation, lodging, meals and in some cases, childcare so the kids can stay home (and out of the way) while the parents can house-hunt in peace.
- Temporary housing. Standard relocations include at least 30 days of temporary housing for transferees.
- Transportation, including auto moving, to the final destination. Most relocation packages include reimbursement for transporting your transferee and his/her family to the new location. If the transferee can travel by auto, reimbursing for mileage expenses is common. Should the move require a plane or train transportation, standard packages often include reimbursing the cost of moving the transferee’s vehicle(s).
- Miscellaneous expenses. As usual, the “miscellaneous” category can encompass a lot of small costs. These can include driver’s license fees, pet registration and licenses, cleaning services at the new home, utility hook-ups and other move-related expenses. To keep this category cost-controlled, identify or cap most eligible costs.
How Much Does Relocation Cost?
According to the American Moving and Storage Association, an estimated full-service move can cost anywhere from $550 to $12,000 or more. This wide range can sound daunting but it is fully dependent on things such as how much you intend to move and how far of a distance it has to be relocated to. If you are on time constraint and a tight budget, talk to your future employer for options is pressing. We encourage you to not be afraid to ask for what you need, especially if the move is being required of you. If you want to further save on expenses, there are plenty of resources online to help you or you can downsize and sell off furniture or other home items.
Selling Your House for a New Job
Once you have all of your finances and moving plans in order, it’s time to figure out what to do with your current house. Most people end up selling to get it off their hands and fund their new home in the new location. However, if you wanted to earn a little extra income over time, you could consider keeping the home and renting it out. Keep in mind that you will be responsible for landlord duties with this option, which may be difficult to keep up with when you’re living in a different state. But if you do want to sell, here are some things you should do:
Hire a Top-Notch Real Estate Agent
Having someone who’s life’s work is to sell houses (and sell them quickly) to guide you through the sale process is instrumental in getting your home sold in a snap. In fact, trying to go rogue and sell your house FSBO-style would end up costing you tons of extra time, especially if you don’t know what you’re doing, so our advice is don’t even bother if your top priority is speed. Real estate agents, specifically experienced ones, know the game inside and out and will have a strategy ready to go pretty much right away. They will communicate with you every step of the way and make sure that they are doing everything they can to get things rolling and get results.
Whoever you hire should be a member of the National Association of Realtors (NAR) and have formally agreed to adhere to the group’s code of ethics. It also helps if they have certificates or the like to prove that they have completed training in specialty areas. These may be:
- CRS (Certified Residential Specialist): Completed additional training in handling residential real estate.
- ABR (Accredited Buyer’s Representative): Completed additional training in representing buyers in transactions.
- SRES (Seniors Real Estate Specialist): Completed training aimed at helping buyers and sellers aged 50 and older. (Via Bankrate).
To find an agent that is reputable and meets your needs, you can seek referrals from family and friends, neighborhood groups, or other homeowners in your area. You can also search on Google for local real estate agents, and they should have reviews that speak to their abilities.
Prepare for Selling
This means you have to check if it needs repairs or if there are parts of the house that need renovation. Identify the major repairs needed; it could be anything from a simple coat of paint to an entire roof replacement, so make sure you start this process as soon as possible. The more presentable the house looks, the higher your chances of selling it fast.
Make the House Look Appealing
Doing little things to spruce up the space such as adding new curtains, fresh coats of paint, stylish rugs, elegant lighting fixtures, etc can go really far in appealing to prospective buyers. Remove the clutter around your home too, as extra junk lying around will give buyers the illusion that your house is smaller than it actually is. Also, if you have personal belongings out in the living areas, pack them away (things like photos, personalized decor, etc). Decluttering will also help you to get rid of unwanted and unnecessary items and furniture that aren’t worth the hassle of moving to your new house. This way, you kill two birds with one stone, and you have an extra fresh start!
If you want to sell your home fast, take quality, high-definition photos of your house. Focus on each room and always highlight the best features of the home. Architectural structures around your house can also help make the property feel unique and stand out to buyers. If you are using a phone to take photos, make sure that the camera on the phone you are using is able to take clear, quality pictures. If you are in doubt about your picture-taking skills, hiring a professional photographer can help you big time.
Give All the Details
Granite countertops, stainless steel appliances, natural lighting: what do all of these things have in common? They’re the features that entice buyers the most, so if you have any of those or other frequently highlighted amenities, make sure to include it in your ad copy. And don’t forget basic information about the house such as the price, number of bedrooms and bathrooms, lot size, location, and any other details worth noting. It helps to browse other listings and take notes on what features are most frequently mentioned, as those are the ones that get the most attention from buyers. You really want to nail down what is special about your house, and lean on those details as selling points.
Price to Sell
One of the most important tasks your agent will do is to create a pricing strategy for your home. Pricing a home is set on many variables such as the local real estate market, the neighborhood, recent sales, the home value itself, and more. An experienced agent will be able to provide you a complete analysis and pricing strategy to best position your home for the best price in the shortest amount of time on the market.
There is an art to pricing so as to attract the most qualified buyers who will put a bid on a home. Whatever price you ultimately settle on, consider carefully as you are ultimately telegraphing to potential buyers the top price they have to pay. Realtors tell us that the average buyer is considering another 15–20 homes when they are viewing yours. Keeping your home on the top of buyers’ lists is important to you selling for what you want.
The most important thing for you to do when facing a relocation for a job is to ensure that you will have some kind of financial support from your employer. You don’t want to be left high and dry with a big moving bill. Once you have this on lockdown, selling your house before a relocation will be much less stressful, especially if you follow our tips!