Home Buying in Morris Plains>Question Details

Andy2, Home Buyer in Livingston, NJ

Buying from Cartus?

Asked by Andy2, Livingston, NJ Wed Dec 7, 2011

I just put an offer and found out Cartus relocation will be having an inspection on the home and will pay more to the seller than what my offer price. Will Cartus accept my offer (no other offer on the house). Is the process different when we buy from Cartus? Also does Cartus fix any problems that were found upon inspection if they accept our offier?

Help the community by answering this question:

Answers

13
Be prepared to sign lots of documents - and follow Cartus' procedures. In my experience the transaction may have more steps but will be orderly. The negotiation around inspection items will be just that - a negotiation as it is in any transaction. You should not concern yourself with whatever arrangement is in place between Cartus and the employee/seller. Focus on the house and transacting a fair deal for yourself.

Good luck and best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpased Results
1 vote Thank Flag Link Fri Jun 13, 2014
This is a horrible reply. We have tried to buy a home from Cartus. They have made it difficult at every turn. They made us use their title company which I have found out is against FEDERAL LAW. They did not even have the buyers payout requested on the day of closing and provided such inaccurate information that it was impossible for my bank to get the HUD-1 approved. We did not close. Now I find our that though buyers may think they have closed, Cartus and their chosen title company may not file the paperwork so that the buyer can obtain posession of the property even after they pay at closing. I know have to hire a LAWYER to get back my earnest money and inspection fee. I cannont have my property moved from another state because I have no home to move into. RUN from CARTUS or you will be out thousands, have no home and still have to pay a lawyer. DO NOT LET A REALTOR say it is fine. IT WILL NOT BE FINE!!!!
Flag Sun Sep 13, 2015
Hi Andy...I see you're still concerned about Cartus!

Don't be.

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!

Good luck!
1 vote Thank Flag Link Fri Dec 9, 2011
As Alan Notes -
"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 “your” 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 it… So,I want Granite counters.. and I want new Windows… and I want… well, that usually ain’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.
1 vote Thank Flag Link Fri Dec 9, 2011
I just bought a house that UNFORTUNATELY was being sold through local realty from cartus. They make the whole process way more cumbersome then if you bout just through a realty company. They make you do two walk throughs. They doing really negotiate. They wouldn't fix the items from the inspection that needed to be addressed. They gave me $1000 to go find a contractor to have it done after we moved in. They refused to close after but on the same day of the closing of our other house so we had to be homeless for 4 nights and pay out of pocket for a hotel. Then they wouldn't do the closing first thing in the morning. They made us wait until 1pm to close and start moving in.
0 votes Thank Flag Link Tue May 31, 2016
RUN from this company as fast as tantTyou can. I cannot describe this company. They break FEDERAL LAW makinag the buyer use their incompetent Title Company. They made me write three earnest money checks before they were satisfied. At the first closing they tried to close on a house they did not own. I believe this is illegal any way you look at it. We finally closed later in the month. I had to call off my movers costing me several thousand dollars. If I had it all to do again, I would never have anything to do with this company. The sellers left the house in a mess, not even cleaning windows and clearing cabinets or mowing the lawn. Total disaster. Have nothing to do with them. They are not a reputable company and they have no respect for laws or people.
0 votes Thank Flag Link Thu Oct 1, 2015
My experience with Cartus was TERRIBLE! My husband and I were buying our first house. We had no idea what Cartus was, but really liked the house. We put an offer in early January, they accepted and we had our whole home inspection completed. They found some significant electrical issues. We hired an electrician to give us a quote on how much it would take to fix teh problem. We sent the information back to cartus asking them to fix it, while we would fix the rest of the issues the inspection found. Cartus wanted to get their own quote, so we waited, and waited, and waited. Usually you and the seller have 3 days to come to an agreement after the inspection has been completed. But in this case, we had to use the contract provided from Cartus, which did not state a time period. So they took a full 10 business days to get another quote, and then decided that our original quote was good enough. Since this was going on during the winter, some of the electrical work was difficult to finish during the snow. Because of all of the delays we had to pay an extra $550 in order to lock in our low interest rate. We paid it because the $550 would overall be cheaper than risk the increase of the interest rate. Well here we are, the day of the closing, and we have all of our paperwork together, including the down payment check. Just got a call from our realtor, and found out that Cartus did not send in the Title of the house, so even though we will pay the downpayment etc., we still will not receive the keys to the house or OWN the house until Cartus sends in the Title. This company is a complete joke. It has been one thing after another with them. I am so glad this is finially coming to an end. If possible, avoid buying a house from them at all costs. It has cost us extra money, as well as extra stress, and a crazy long closing (3 months). Sorry for the long response, but this is just absurd.
0 votes Thank Flag Link Thu Mar 12, 2015
Relo company -Cartus- is becoming an owner and they sell the property to you! Why? They ask you to sign a tons of docs, if you don't sign you don't get the property. What is the purpose of this middleman? The Real Estate people would say, 'well they are a relocation company'! We know that. Why you deal with them and buy from them but they are not in the records only to tell you what to do and collect money. They don't work free for seller, of course (they work for seller) and who pays for their expenses and profit? Hard to believe that someone should sign and agree for the middleman to get a property from someone else. If the home is good, you don't need a relo company to buy your home first and then sell to the buyer. For buyer and seller- it is your home... why a relo comes to play in between?
0 votes Thank Flag Link Thu Jun 12, 2014
Hi Andy,

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!
0 votes Thank Flag Link Thu Apr 26, 2012
Good and thorough answer from Alan. I would also add that in my experience with Cartus negotiating can take a bit more time than a one on one with a seller, because points must be vetted "up the ladder" in a corporate sense. In one experience where I was representing the buyer, the listing agent put it well, any point had to be "run up the flag pool and then come back down" and that can take a little time.

Relo deals can be good ones -you know you have a true seller - they will move.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Serivce, Unsurpassed Results
0 votes Thank Flag Link Wed Dec 7, 2011
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.

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.

Good luck.
0 votes Thank Flag Link Wed Dec 7, 2011
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
Hi Andy2,

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.
Web Reference: http://www.terrivellios.com
0 votes Thank Flag Link Wed Dec 7, 2011
Why deal with anyone else if you can just offer more to the actual seller? You realize that this 3rd party, most likely, will want even more money than the current seller, don't you?
0 votes Thank Flag Link Wed Dec 7, 2011
Hello Andy
Your realtor should be able to answer all these questions for you . A relocation company handles each transaction differently - how did you learn that the relo company would
0 votes Thank Flag Link Wed Dec 7, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer