Why Need a Relocation Home Appraisal?
The purpose of a relocation appraisal is to offer an estimate of a home’s expected sale price. We will look at factors such as the design of the home, the current market, comparable sales, and the overall appeal. Features such as updated appliances, curb appeal, a hot sellers market, and a nice neighborhood could have a positive impact on the appraised value.
Keep in mind that these appraisals are only performed for the purpose of corporate relocation. When the client receives these reports, it will provide them with an estimated sales time frame based on the current market.
A relocation appraisal is not required in the process but highly recommended because it provides the employer with a better idea of how to put together a relocation compensation package. If it’s projected that a house will sit on the market for a while and require extensive marketing efforts, the employer should increase the amount of compensation paid to the relocated employee.