Good luck and best,
Unwavering Commitment to Service, Unsurpased Results
Negotiate through your agent, as per usual - it may take a little longer to get responses, as has been mentoned, so be patient. There are several people along the way who are part of the decision making process .......but...once there is an agreement, things usually go smoothly.
You ask -- Will the seller accept your offer, which you believe is less than Cartus offered them?
Maybe....maybe not.....negotiate and find out......if Cartus made a higher offer, you better believe they did that based on paid appraisals....
Truthfully - I actually like dealing with a relo company - less emotions coming from the other side.
In this area, the attorney they often use is in Parsippany, and his firm is a pleasure to deal with - they are very responsive.
I just closed on a Cartus owned home (owners were just transferring the house over to Cartus when we made our offer, so everyone was involved in the negotiations) - it was smooth sailing once we had a meeting of the minds and contracts were signed. There will be a huge pile of papers for you to sign besides the contract.........there is a standard relo addendum ...plus you will have to sign off on the inspections.....acknowledging that you received them, but still keeping the right to have your own inspections.
Our attorney review was completed within the 3 allotted days - quick and efficient due to both attorneys quick responses.
The listing agent was also well versed and experienced dealing with Cartus, so that made everything easier, as well.
With my sale, they used a very reputable and respected home inspector........and had a number of items addressed, provding us with all paid receipts.
We had our own inspection, and some additional items were discovered........they offered a reasonable credit for repairs, and also wound up adding a secondary battery operated sump pump following our Oct snowstorm .
We even closed 1 week early............and the entire process from start to finish, from contract signing, was 45 days.
I wish the same for you!
"Cartus is a relocation company, and a good one, at that. Clearly, Cartus represents the seller. I have worked with and am a Cartus certified relocation agent. Cartus typically does an inspection for the purposes of disclosure, but it's not an inspection done FOR the buyer. "
I say -
Yes, but they do the home inspection for the seller to properly price the home for buyout or sale.. Do not take this as something that is a negative, as they also DO request the homeowner make the repairs that are required, by licensed legitimate contractors. The relo home inspector is not there to cover Cartus butt.. but, to ensure they are selling a safe and sound property. Not saying you should or would, But , you can absolutely accept a Cartus home inspection as â€œyourâ€ home inspection and save the dollars..
Cartus will fix or negotiate in good faith legitimate repairs. A LOT of people say stupid stuff when they hear it is a relo.. like.. well it is a company owned property and they can afford itâ€¦ So,I want Granite counters.. and I want new Windowsâ€¦ and I wantâ€¦ well, that usually ainâ€™t gonna happen and they are not going to take $75K less because they are a relo company either..
Relo companies usually make better deals as they require the properties to be maintained or maintaind to saleable level. Continue your due diligence.. and treat this as a better than regular deal. As it probably is.
All good advice from the agents who responded so far. I live in Livingston, my ofice is in Caldwell. I am a Coldwell Banker real estate broker. My office handles many of the Cartus relocation transactions. As a home buyer, your written offer must be presented within 24 hours.
With relocation companies (not just Cartus), the transferee is given a price at which the relocation company is willing to purchase the property. If your offer is less than the seller's corporate buyout number, of course, the seller will be more eager to accept the buyout from the relocation company than your offer.
When a home sells for less than the buyout offer, often the transferee's company may have to make up the difference (or a percentage of the difference) to the employee. This is not always the case. Each relocation and transferee have terms that have been negotiated between the relocation company and the employer. Often, your offer needs to go through a few channels before a response can be given. Unfortunately, it might take more time.
However, you needn't wait around forever. If the relocation doesn't respond quick enough, they just may lose you as a buyer. A good real estate agent can advise you on a strategy for working with the relocation company and/or helping you evaluate your options. If you have further questions, I'd be happy to help you if I can. I can be reached via Trulia or by email RBruckner31@gmail.com . Good luck to you!
Relo deals can be good ones -you know you have a true seller - they will move.
Good luck to you,
Unwavering Commitment to Serivce, Unsurpassed Results
You're not buying from Cartus (at least not yet), you're buying from the seller. The seller is incentivized by Cartus to sell the property without a buy-out. But that does not mean that Cartus will pay the buyer MORE than your offer.
Cartus will be offering the seller "benefits" that their company provides... such as paying some of their fees (ie: moving, utilities, survey, lawyer, and sometimes commission, depending on their plan).
Treat this just like a normal purchase. Negotiate with the seller. The only thing that I've found that Cartus will NOT do, is accept an offer that's contingent on the buyer's sale of their home.
I just closed a Buyer in CA who purchased a Cartus relocation home. First off your agent and the listing agent should be in communication about the process and your offer will be based on market value and what you want to pay. I suggest you get your own inspections even though Cartus will supply one I personally found their inspections not up to par on my inspectors. My client inspections revealed several items but Cartus was not willing to make repairs. They did however agree to a credit towards closing cost that my buyer could put towards their repairs. It didn't cover everything but the buyers were happy.
Response time was slow, about 3 to 10 days for some things, but relatively easy to deal with. They do have A LOT of disclosures and addendum you need to sign so be sure you and your agent understand what you are agreeing to.
Each home, State, and transaction is different so this is just one example. All the best to you.