I just recived a job offer in the Ann Arbor area and plan on relocating. I own my own home and live in the
Muskegon Area. I have never relocated before. How does the financing work? Do I get a bridge loan? I can't pay two mortages at the same time. I will start my new job in about 4 weeks. I have yet to find out from the new employer if they will cover relocation. What if they do not cover relocation? How do I get started?
Hi Adam,
Congratulation on your new job. Will you be bringing a family with you too? I agree that you do need to know what your new employer is going to offer you in a relocation package. They may advance you the equity in your present home but that seldom happens. Often they will cover living expenses at your new location for 6 months, giving you time to sell your home in the Muskegon area. You might want to look for a lease with an
option to buy . Then when your home in Muskegon has sold you could purchase the home you started out
leasing.
I would be happy to help you if you give me a call. I went thru 4 of these corporate moves personally. Each
company offers different packages so that is the starting point.
Good Luck!
Contact me at mgeise@michigangroup.com or 810-844-2246
Adam,
Because of all the "Buy and Bail" foreclosures, I suggest pinning down your new employer to see what services they can provide. Once you know your options, you can speak with your lender and find out your options with them.
I assume Derek has access to relocation services through his broker. They might be able to help, but I would go through him since you have established a relationship already.
Good luck in your new job!
Contact a mortgage broker is your best resource for info. all is based on your credit score, debt ratio, employment history and etc. If you cant sale your home prior to move may consider leasing your house reduce your overall debt per month.
Hello, Adam!
You and I spoke a couple weeks back (I stepped out of a seminar to take your call, if you remember), and you were still waiting to hear if your transfer was going to come through. You contacted me on a home I have listed in Livonia, on which the price was just drastically reduced. Wow, your relocation plans came together much quicker then you expected, eh?!
I am happy to continue our conversation. Please do call me at 734.678.4745, or email me at Derek@DoorToDreams.com.
I look forward to speaking with you. Thanks...
Derek Bauer, Associate Broker / Realtor
Real Estate One
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