Are you planning to relocate your employee? Are you stressed out with the competitive real estate market? Here’s the good news, more employees will now be able to sell their homes quickly above their price. However, this can be pretty competitive. In most parts of the US, the demand for homes is higher than the supply.
Having a home quickly with a limited selection is an ideal way, and that’s the situation that comes when relocating employees. Here are a few home-finding strategies that Versa employee relocation service recommends to sort out things.
Thorough preparation is necessary when relocating employees. Employees need to have a clear idea of their budget, target neighborhood, home size, and style. Apart from that, there are many other considerations too. Having a mortgage pre-approved and proof of funds in hand is another significant factor to make things flexible.
Having a home of your dream is undoubtedly a significant investment. Employees moving to a different location need time to shop around and consider other options. However, this strategy leads to a frustrating home-finding process. By the time an employee gets back to the previous option that property may have gone. Therefore, property buyers should be prepared to deal an offer on the spot.
Employees know their pre-approved mortgage amount; however, only they can decide how much they want to spend. Buyers are in search of a home priced below their maximum budget. Also, this gives them more flexibility in their budget. If the contract stands more than the asking price, the mortgage appraisal might fall below the contract price.
The greater the contingencies, the more the risk. In a multiple bid situation, cash offers with zero or few contingencies jump to the top in the sellers’ list. However, this may not be realistic for relocating employees. Nevertheless, buyers need to make their offer more enticing. This may be due to a shortened inspection timeline or perhaps offering earnest money beyond the minimum required amount. So, think again when going for patio furniture, the sound system, or other concessions.
If there are multiple offers, there are rejected offers. In most cases, buyers believe in their negotiating skills to shun down their agent’s advice. However, never get discouraged but learn from the experience. Be prepared for the next big deal.
While some areas renting can be pretty cheap. For buyers looking to stretch their budget, renting is a worthy approach. This can be significant if employees get into a high-quality school or an otherwise unaffordable neighborhood. The buyer can save or invest in the home proceeds or re-enter the market the next time.
In the current pandemic situation, the real estate world has fully embraced technology. The real-estate market now offers virtual property tours 24×7. Versa employee relocation service suggests viewing property via virtual tours. In fact, buyers can now preview properties anywhere at any time.