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Your Transferee Must Do This One Thing Before Listing Their Home

The home selling process is at the top of your transferee’s list of stressful relocation tasks. There is a lot to consider and a lot to do both before and during the marketing period. Sure, your transferees know to clean and organize the1-thing-your-transferee-must-dohome and work on the curb appeal before the Realtor shows it to potential buyers, but do they know that they should take the time to talk to their local government to check on the accuracy of information on file?

 

Regardless of the origin city, your employee’s local building department and town assessor alike have information on their home. However, it is unlikely that the records on file match reality. This is because many times, somewhere along the line, paperwork got messed up. It could be that a permit was applied for but never signed or closed out properly, or that there is no formal record of your renovated kitchen or fully finished basement. While these issues may not be the seller’s fault, they can absolutely still lead to problems when it comes time to close with a buyer.

 

Once your transferee accepts an offer, the hard part really begins. The buyer (or Realtor, lender, or title company) will then need to do their due diligence which includes looking into the records that the building department has about the home. It’s important to note that even if the current owner has never applied for a permit or done any major work on the house, a previous owner may have and any hiccups could very well deter the buyer from moving forward. Additionally, as years go by, building codes change and update. Something that was up to code 15 years ago may no longer fit the bill.

 

In addition to the building department’s records, local town assessors also keep records of every home. These records essentially keep tabs on the local real estate market to ensure that the assessed value of the home is in line with the market. It’s very possible that your home is either over- or under-assessed. Either situation can lead to issues when it comes time to sell so it’s important to make sure everything is as it should be.

 

Your transferee can stay a step ahead by simply checking up on their own home’s records and rectifying any issues. Most of the time, it’s a quick fix and definitely easier than waiting for a problem to pop up. However, if a bigger issue surfaces, it may not be the best time to list the home. If that is the case, a quality Relocation Management Company can help your transferee understand their options in terms of renting out their home or working with a property manager.

 

Selling a home is a stressful process. Couple that task with all of the other responsibilities that come with a work related move and your transferees can easily become stressed out and overwhelmed. The more you can help prepare your employees for each step of the relocation, especially the home sale process, the better the relocation will go. Checking on home records is a lesser known item on the to-do list but that doesn’t make it unimportant. Simply looking in to what is on file could save your transferee a lot of time and stress, especially if they’re able to remedy any issues before they cause a bump in the road.

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MIKE CANNING
VP, Client Services

RICK CALANNI
VP of Business Development Northeast Region

 

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