Congratulations on your new job! Of course, this means you now have a long list of things to resolve before relocating. At the top of your list is what to do with your beautiful home. Dealing with a relocation company to purchase your home usually requires multiple appraisal reports. You, the owner, can have a hand in helping to decide who will appraise your home, based on recommendations from the relocation company. As part of the appraisal for a relocation a homeowner can provide the appraiser sales and/or listings of homes in your market for consideration.
The relocation appraisal is different than the appraisal for a mortgage in many areas. The information regarding the sales is more detailed and listings are also required in the report for forecasting the market. Typically, the relocation company is setting the marketing time for the listing of a home, typically 120 days, and the value is based on being able to sell the home within that defined marketing time. Discounts to the value are also factored if the defined marketing time is less than the actual marketing time in a particular market.
The anticipated sale price of the home is crucial for this assignment and knowing when markets tend to increase or even decrease, adjustments either way are a significant part of the equation. The report splits the activity in a market into segments, and my preference is to analyze on a per quarter basis allowing for adequate time to define the direction of the market. If the community has a low amount of sales, then the segments can be annually.