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Corporate Relocation Sale

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Nomad44
Nomad44 Posts: 161 Forumite
in House buying, renting & selling
I've got my eye on a house which has been inhabited by tenants who are being relocated by the company they work for. It's my understanding that the house is owned by the company. Is there anything I need to watch out for and be wary of?

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  • Twopints
    Twopints Posts: 1,770 Forumite
    First Post Combo Breaker First Anniversary
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    Are you sure it is owned by the company (i.e. employer)? When I was relocated my employer used a 3rd party company that effectively bought the house from me, based on an average of three valuations by estate agents.

    For me, this meant I was effectively a cash buyer. For whoever bought my house it meant they had no upward chain.
    Not even wrong
  • Nomad44
    Nomad44 Posts: 161 Forumite
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    Twopints wrote: »
    Are you sure it is owned by the company (i.e. employer)? When I was relocated my employer used a 3rd party company that effectively bought the house from me, based on an average of three valuations by estate agents.

    For me, this meant I was effectively a cash buyer. For whoever bought my house it meant they had no upward chain.

    It's possible, but the house is overpriced which would mean one agent has gone way over it's true value, wouldn't it?
  • eddddy
    eddddy Posts: 16,448 Forumite
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    I bought from a corporate relocation company some time back.

    It was just like any other purchase really. As you would expect, they were very business-like. Just straightforward "No" or "Yes" answers to offers - no counter offers or clues about what they might accept.

    They would only communicate via the EA or solicitors.
  • Nomad44
    Nomad44 Posts: 161 Forumite
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    eddddy wrote: »
    I bought from a corporate relocation company some time back.

    It was just like any other purchase really. As you would expect, they were very business-like. Just straightforward "No" or "Yes" answers to offers - no counter offers or clues about what they might accept.

    They would only communicate via the EA or solicitors.

    Did you offer what they were asking?
  • davidmcn
    davidmcn Posts: 23,596 Forumite
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    Nomad44 wrote: »
    I've got my eye on a house which has been inhabited by tenants who are being relocated by the company they work for. It's my understanding that the house is owned by the company. Is there anything I need to watch out for and be wary of?
    You're unlikely to get the full range of warranties you'd expect from an owner-occupier, as the owner doesn't know e.g. whether there have been disputes with neighbours, whether any alterations have been made, etc. It's more like buying a repossession.
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