When it comes to relocating for a new job, the last thing anyone wants to worry about is selling their home. Home sale programs can help reduce the stress of relocation by providing assistance with the marketing and sale of the new employee’s home. This article discusses the process and benefits of tax-beneficial home sale programs, which are available in both traditional cost-plus and fixed-price models. With a home sale program in place, your new employee can focus on their new job and leave the selling of their old home to the experts.
In the first stage of the home sale process, the consultant helps the employee compare, evaluate, and review offers to make sure they understand the offer terms and the risks and benefits of accepting. If they accept an offer, the relocation management company purchases the property on their behalf. In the second stage, if the employee is unable to sell their home, the company will appraise it and make an offer to buy it from them. Lastly, if the company buys the property, it will manage its sale and try to resell it quickly while still making a profit.
Traditional home sale programs can be costly and risky, but fixed-price home sale programs offer a number of benefits for both the company and the employee. With a fixed price program, the company pays a single, fixed fee that is based on a percentage of the employee’s home value. This can be helpful for budgeting purposes and helps to mitigate the risk of increased sale costs. Additionally, fixed price programs streamline the accounting process and are attractive to top talent in a competitive recruiting environment.
Get answers to all of your questions about home sale programs in this ultimate guide put together by the VP of Corporate Sales and Mobility Services for northAmerican® Van Lines, Bobbi Maniglia.
