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View Full Version : Relocation gone wrong...


Balldog
10-07-2015, 08:46 PM
I'm curious if anyone else has had some similar type of experience...

Back in June I was approached by a headhunter about a job in the south...the job was interesting, the pay was in line, and the location was good! So we explored the possibility with excitement.

During the hiring process we contacted a few realtors to understand what to expect for our house. The results were consistent in range so we took the low end to be conservative. We also found out we were pregnant with kid #5 towards the end of the process (about 6 weeks later).

The offer came, we crunched the numbers and said lets go for it! Knowing the housing market in Michigan really slows down once school starts we started pushing to get involved with the relocation team asap but the process drug out for 2 weeks to get our house on the market. The approved realtors also came in about $25k less than what we had been told earlier.

Here we are going on 60 days on the market and we got an offer last weekend for $30k less...so we are now $50k off track! We countered and they refused to negotiate.

So we are soon to be headed into winter with no buyer...

On to buying the house...during our house hunting trip we found 2 houses we really liked. We made an offer on our favorite but so did someone else and we lost out. So we moved on to the 2nd house. We made an offer and they accepted. Then comes the inspection with 41 issues - some safety, some major issues, and some minor issues. We asked for all safety issues that we could not do ourselves to be fixed and all major issues to be addressed. They basically said no and we terminated. We have been searching for other options and have yet to find anything...

So no house to buy and can't sell our house...

Here we are a family of 6 with #7 coming in a few months...stuck in a 3 bedroom apartment...on the 2nd floor...we actually just got our first noise complaint tonight...with no end in sight.

It's quite depressing.

Early this year I talked to a company in Michigan about joining their team. They made an offer but I ended up staying put. They asked that if I ever reconsider to please contact them. They actually reached out to me this week and I am honestly considering abandoning ship and heading back.

To complicate things I have significant bonuses due at year end and will have to pay some relo expenses back.

The job is going ok but there have been remarks about waiting to unleash everything on me until I sell my house that are really bothering me. And the job isn't exactly as described...more travel and less interesting work...

We have always wanted to move south but it seems like this just isn't working. Any advice from anyone who has been through this would be greatly appreciated.

Solecismic
10-07-2015, 09:03 PM
Sorry about the Michigan housing situation. We really are in a one-state continued depression. I've wanted to sell for years now, and my real estate agent keeps saying it's a bad idea. Maybe next year.

I would take 20% off even the lowest projections if you absolutely have to sell here. There are no buyers out there.

Most apartment complexes aren't going to put a family of six on the second floor. That's on them. Hopefully they'll work with you on this.

JPhillips
10-07-2015, 09:07 PM
It took me three years to sell my house in Indiana after we moved to New York.

If you're really unhappy and really want to move back, do so. The lost money won't matter in a few years, but your happiness will. I'd also say don't give up without really thinking it through, but don't be afraid to do what's best for you and your family.

MrBug708
10-07-2015, 09:45 PM
Have you thought about renting a house? I saw you were renting an apartment so maybe you huddle up in a house for a bit?

Balldog
10-07-2015, 10:27 PM
Right now they are paying for the apartment until mid-December then we are on our own. At that point we will have to start drawing from savings to pay for our mortgage and rent every month. I hate to give up so early but all the signs are pointing towards this may be a bad deal for us. I can't afford to just dump the house, we need the equity to have a good down payment down here. A big part of our decision was based on getting that equity as part of the deal with them paying realtor fees. Financially it made sense on paper but now we are getting to that point where it doesn't.

The good news is we really enjoyed Michigan...except the last 2 winters!

stevew
10-08-2015, 12:55 AM
Is there any way to deduct the loss of house via relocation on your taxes? Seems like you've done the hardest part here in moving. Obviously you can maybe get a sweet deal to move back, and if so that would be amazing. If you stay and rent a place, how quickly can you make up the 50k or so you'd lose in the Michigan house? Anyways, it's a tough one but good luck.

Balldog
10-08-2015, 04:52 AM
I'm not sure. I will need to look into that. We haven't really moved anything other than ourselves. The apartment is fully furnished so all of our stuff remains in Michigan right now. The drive is rough with the kids but it's manageable if we had to.

Logan
10-08-2015, 08:37 AM
It took me three years to sell my house in Indiana after we moved to New York.

If you're really unhappy and really want to move back, do so. The lost money won't matter in a few years, but your happiness will. I'd also say don't give up without really thinking it through, but don't be afraid to do what's best for you and your family.

Big +1 here.

You probably already explored this, but any chance the new company shoulders some of the loss when you sell your house? I know my old place had that included in the relocation package.

Logan
10-08-2015, 08:39 AM
I'll also add, as I read the OP and got down to the part of the other company back home making you an offer, it kind of came across as a life preserver being thrown out. They wanted you and still want you, it could be worth notifying them about your bonuses/relocation reimbursement and try to get that included in your offer.

Balldog
10-08-2015, 07:38 PM
The relocation package only offers the buyer value option. So basically once I get an acceptable offer they buy it from me and I move on.

I'm talking to the company back in MI again tomorrow to see what we can do. I'm not sure I'm completely ready yet but I will have to see where this goes.

gi
10-08-2015, 08:11 PM
I just went through two relo's in two years. One from Michigan to South Carolina and then back to Michigan. Took 6 months and a loss to sell both houses. Depending on the area, patience was key and the willingness to list below the houses value. Ensure you have a good realtor, that was critical for me.

Balldog
10-08-2015, 09:47 PM
Our realtor is horrible IMO
Unfortunately we had to pick from the 2 approved companies.
She was very responsive upfront and the other we had to call 5 times to get her out to meet with us.

As soon as we signed with the realtor she did a complete 180. It's been quite frustrating but at the same time I know it is not always the realtors issue if the house just isn't moving. However, we never get feedback unless we ask and there are a lot of times she just doesn't call back or respond to texts.

We do live out in the country with a nice amount of acreage so our pool of buyers is reduced significantly.

We have another showing tomorrow so hopefully we get something!

CU Tiger
10-09-2015, 09:33 AM
Good luck with whatever you decide.

I will offer this one piece of unsolicited advice. In your heart/gut you know whether you are happy with the new place. If you are happy there and like the location, job, everything but the housing situation commit to sticking it out and do what you have to do to move towards the "new life". If that means dropping the price $20k and blowing the house out and having a $200/month higher mortgage down south, or if it means a slightly smaller home down south DO IT and don't look back.

Conversely if deep down you know that you made a mistake and wish you were back in MI, then pull the band aid off immediately and get back.

People who are happy with their personal lives are better employees and vice-versa. If you are happy with the move you will thrive and your income will increase to offset anything you leave on the table RE wise. Conversely if you are unhappy with the move you will struggle long term and even if the RE deal is optimal you will never excel.


In my experience realtors come in 2 flavors only. Horrible and there to draw a paycheck (85%) and rockstar worth every penny you pay them and then some.

Flasch186
10-09-2015, 08:16 PM
In my experience realtors come in 2 flavors only. Horrible and there to draw a paycheck (85%) and rockstar worth every penny you pay them and then some.

FWIW, I hope to fall in the latter category. We have shunned working with RELO companies for the following reason. Typically they take a MONSTER cut off the top (30-40%)/deal and then the Realtor has to split the rest with the brokerage (anywhere from 50/50 to 90/10). So in essence what ends up happening that I see is the Realtors that opt in to this are jumping on a treadmill that makes them have to have a ton of customers in their hopper to make a living which means their service level typically has to suffer.

Do we do rebates? sure but its usually upon request or to match something or in a back to back deal (sell to buy) but this lets us focus on just a few clients at a time and give them all the time they need and want.

My .02 re: this one topic.

On the rest I wish you the best of luck!!!

gi
10-11-2015, 08:27 AM
I've used the relo company for everything but finding a house and realtor selection. I've always reserved to do for myself because of Flasch186's same reasons.

Balldog
10-12-2015, 12:51 AM
Yeah I have read that it isn't the best scenario either but they are paying realtor fees so those were the options.

Friday afternoon I talked to the company back in MI and they made an offer in writing 90 minutes later. I have until tomorrow to accept. I still don't know what we are going to do but it feels like the right thing is to go back at this point.

Our neighbor called yesterday and let us know he found one of barn cats passed away. He wasn't sure from what as he had no visible injuries. That was a bummer as he was one of our favorites (we have 4) and the kids are really missing him. They took it really well. His name was Superman and our almost 4 yr old said he must have found gotten into cryptonite. Kind of cute but he was pouting for quite a while.