Government & Corporate Relocation
Government and corporate relocation appraisals provide crucial estimates for homes' expected sales prices during job relocations, facilitating smoother transitions for employees. These appraisals differ significantly from mortgage appraisals, focusing on anticipated sales prices to aid companies in developing accurate compensation packages for relocating employees.
Simplifying the Process for Employees and Employers
Relocation appraisals are performed to estimate a home's expected sale price, considering factors like home design, market conditions, comparable sales, and overall appeal. This type of appraisal is specifically for corporate relocation purposes, offering companies or employees insights into potential sales proceeds and helping structure compensation packages accordingly. Professionals performing these appraisals take into account current market trends, supply and demand, and other sale-impacting factors to project the sale timeframe and price, which is essential for planning and budgeting the relocation process.
The process is initiated by the corporate relocation company and is governed by standards set by organizations like the Worldwide ERC. The appraisal aims to provide a short-term decision-making basis, covering up to 120 days, reflecting the immediate planning and implementation needs of the transferee's relocation. Unlike mortgage appraisals that assess a property's market value for financing purposes, relocation appraisals focus on the anticipated sales price to facilitate the employee's move.