A Corporate Relocation Package can include some nice employee benefits when their employee is relocated to another city. The range of benefits vary, depending on the transferee tier level and whether you are buying or selling a home, or both. One of the most desirable benefits, not offered to all employees who need to sell a home, is the Guaranteed Buyout Program. This is a benefit where the employer buys the transferee’s home, after being actively marketed by a real estate agent for a specified period of time. Due to the employer assuming the risk of ownership, for the employee, the company can restrict certain types and atypical homes from the buyout benefit.
The Synthetic Stucco Caveat
The company will not buy a wood frame home with EFIS or synthetic stucco on the exterior. The reason being, the material does not breathe, water becomes trapped in the siding and any water penetration to the wood frame can result in mold and or wood rot. The risk of damage is too great and the costs of repairs can be expensive. Homes with synthetic stucco exteriors are atypical and typically sit on the market much longer than any other home.
Possible Buyout Limitations – Home Atypical For the Area
A home that sets on a large amount of land or with excessive drive time to the city or the location of employment is atypical.
Weigh The Possibilities Of Another Move
It’s important the Transferee Buyers strongly consider the reasons above, especially if another transfer may be in the not too distant future. A Real Estate Agent with Advanced Training in Corporate Relocation can help the buyer avoid potential pitfalls, when the time comes to relocate again.
Choose an agent who knows the in’s and out’s of the relocation process. Agents who are certified in working with corporate relocation transferee’s have proven their expertise. First, the agent must meet the prerequisite of experience. Then, complete the advanced study with a proven and thorough knowledge of the Corporate Relocation process. Finally, only those who pass the examination(s) are qualified to work with corporate relocation and their clients.
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