Relocation Packages
Relocation packages are often offered by employers who want employees to relocate to another state or by a new employer who wants to hire someone who lives in a different state.
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Although the specifics of the package differ from company to company, you may be able to negotiate a better package if you have a specific and unique skill set or the job market is such that there is little supply and large demand. Often times larger companies will be able to offer a better package, but you should not discount smaller companies when looking to relocate as they may have more of a need and be able to meet or exceed anything offered by a large company. Don't be afraid to ask about the relocation package when interviewing.
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One of the big benefits offered in relocation packages is the assistance offered in the sale of your house. You should make sure that you are clear on what is offered before you accept a transfer or new job so that there is no confusion on either side. In some cases, you may be able to get the company to pay for house hunting trips for you and your family and paid extra time off to explore the new area while house shopping. In most cases, the company will pay your moving expenses, but make sure you find out exactly what they are paying for and try to get them to include packing expenses and insurance. Also included may be your travel and lodging during the move.
Of course, before you can move to your new house you will have to sell your old house. Relocation packages offer different levels of assistance for this. In some cases, the company may pay all household expenses after you move and until the house is sold. In others the company may buy the house if it does not sell before the move. In some cases you can agree on a fair market value for the house and stipulate that the company reimburse you if you cannot get the full price due to rushing the sale. They may also pay all commissions associated with the sale. In any event, getting the best price you can for the house is in your best interest, so check out our tips for selling a house
And, of course, they may also help in the purchase of a new house. They may offer a low interest loan for you to purchase the home or pay for a rental while you are looking for permanent residence. Of course, you will need to consider salary differences and differences in cost of living between your old area and new area when figuring out what you can afford in a house. It pays to do this research as there can be many aspects to consider when relocating.
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